FTSE100 pension deficits reach record high of £300bn

The business advisory firm said it was the highest ever level and more than double the £130bn deficit at the start of the year. Deloitte pensions consulting practice partner David Robbins blamed the continuing fallout from financial turmoil for the spiralling deficits. He added many companies now face demands for huge contributions to their pension schemes in order to repay losses made on investments. Robbins also warned that although many firms are looking to close their final salary schemes to future accrual deficits will remain. "Closing the defined benefit scheme to all employees is...