Pension deficits threaten one in 10 FTSE firms

A Pension Capital Strategies (PCS) quarterly report says only five FTSE pension funds are in surplus - with 81 in deficit - and predicts final salary pension schemes at top companies could end within three years. It found a total of nine companies have total disclosed pension liabilities greater than their equity market value. For British Airways and BT, the liabilities are more than treble their equity market value. This comes despite a total deficit funding of £11.1bn last year, up from £4.4bn the previous year - an increase of more than 150%. Royal Dutch Shell made a massive ...