Some related articles :
pensions face shortfall
News, August 21, 2001
firms are facing pension funding shortfalls
pension schemes of hundreds of thousands of workers could be in jeopardy,
according to a leading firm of actuaries.
growing number of pension funds, run by some of the UK's largest
companies, are worth less than the benefits that members of the scheme are
entitled to claim.
study by Bacon & Woodrow of final salary pension schemes, revealed
that 17 schemes run by FTSE 100 companies were unsustainable at current
funding levels, compared with only seven last year.
one instance, the size of the deficit was almost £170m.
two of the FTSE 100 companies already making extra payments to prevent a
shortfall, a growing number of people could be asked to top up their
current problems are based around current stock market volatility and
the latest figures are likely to call into question how closely some
pension funds are being administrated and projections monitored.
majority of company schemes in the FTSE 100 were in fact over-funded.
revealed 83 schemes reported excess funding levels, with 20 reporting
funding 25% above sustainable levels - up from 14 schemes last year.
FAIR USE NOTICE: This page contains copyrighted material the use of which has not been specifically authorized by the copyright owner. Global Action on Aging distributes this material without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. We believe this constitutes a fair use of any such copyrighted material as provided for in 17 U.S.C § 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.