Pension trustees told to ignore market 'blip'

Last week, FTSE 100 pension schemes had a combined deficit of £15bn, according to actuarial consultancy firm Lane Clark & Peacock (LCP). This prompted concerns about pensions provision, expecially for those in defined benefit schemes who are nearing retirement. David Poynton, head of credit analysis at LCP, warned defined benefit scheme members to find out whether the employer backing their fund is at risk from the current credit crunch. "Companies needing to refinance debt in the near future – especially those without investment grade credit ratings – may find themselves facing hig...