Company pensions shortfall tops £10bn - papers 11 March

The Times reports today that the shortfall in company accounts now being forced into the spotlight by FRS17 accounting rules is more than £10bn. The rule has created friction between the Accounting Standards Board and a coalition of politicians, companies and the Confederation of British Industry, which argue that FRS17 only provides a snapshot of pension liabilities linked to volatile equities and does not take account of the smoothing affect of holding equities over time. The Times says this argument is unlikely to persuade the ASB to change its mind. "There are clearly ...