FTSE pension schemes facing £72bn shortfall

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Pension schemes of FTSE 100 companies have lost some £68bn in value since the start of 2002, accordi...

Pension schemes of FTSE 100 companies have lost some £68bn in value since the start of 2002, according to research from actuarial consultants UBSL. This takes the overall pension fund deficits of these companies to £72bn at the end of December 2002, a fall of more than £13bn in the final quarter of the year. According to UBSL, the forthcoming results season will contain a number of shocks for investors and further closure of final salary schemes may be imminent. With falling yields on AA corporate bonds and the FTSE All-Share declining 23% since the beginning of 2002, UBSL said many f...

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