According to market reports today, FTSE 100 pensions are now back in the red, due to combined falls in the stock market and the global credit crunch hitting all financial services industries.
In July, actuarial firm Lane Clark and Peacock found that FTSE 100 company pension schemes were some £41 billion in the red, some £12 billion more than the same month last year.
Since new pensions account methods were introduced in 2002, this is the largest swing in pension funding . The figures were reported as part of the LCP 2008 Accounting for pensions report.
The news will further threaten final salary pensions schemes .
UK FTSE pensions fall back into the red
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UK FTSE pensions fall back into the red
Wed, 06 Aug 2008
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