PCS

UK - The combined deficit of the top 100 UK firms' defined benefit schemes has shrunk by £8bn ($12.6bn) over the last year, Pension Capital Strategies says.

The combined deficit of the top 100 UK firms' defined benefit schemes has shrunk by £8bn over the last year, Pension Capital Strategies says.

The UK's biggest firms have pumped £13bn into their defined benefit pension schemes in the last 12 months, research shows.

Ten FTSE100 companies have total disclosed pension liabilities greater than their equity market value, Pension Capital Strategies research shows.

Alliance Boots employees will be given extra time to reapply for a new defined contribution pension scheme after the firm refused to allow members to "reserve rights" as part of the joining process.

The combined deficit of the top 100 UK firms' defined benefit schemes has improved by £17bn over the last year, Pension Capital Strategies says.

The pension scheme of nearly one-in-10 FTSE100 companies represents a "material risk" to its business, Pension Capital Strategies research reveals.

The funding position for private sector defined benefit schemes is £95bn worse off than this time last year, according to Pension Capital Strategies.

Private sector defined benefit pension schemes are 85% funded, Pension Capital Strategies says.

FTSE100 pension schemes racked up combined deficits of £72bn last year as economic turmoil sliced asset values.