FTSE 100 pension schemes hit first surplus in five years

In mid-July pension schemes of FTSE 100 companies reached a £12bn surplus, a dramatic rise on the £36bn deficit in the same period last year. However, the FTSE 100 fell 8% at the end of July, dragging FTSE 100 pension schemes to a £6bn deficit. The pension deficit of 80 of the world’s largest companies from Europe, the US and Japan, reached a £21bn net deficit in mid-July, an increase on the £88bn deficit at the same time last year. FTSE 100 pension schemes remained in deficit from 2002 until April this year before rising to about £2bn in May. Bob Scott, a partner at LCP says: “The surp...