Further slumps in the stock market this year have further increased the pensions deficit in the UK by £40 billion. Although many large companies have already acted to reduce pension exposure to equities, FTSE falls have bumped up the already large pensions deficit .
Pension funds have suffered from a declining FTSE this year, with slumps of approximately 13 per cent since the start of this year. The level of exposure that pensions funds have to stock market collapse varies from company to company, as revealed in a recent Morgan Stanley list.
Heavily exposed companies may find their pension schemes severely damaged by stock market weaknesses. For many pensioners, the prospect of a bleak retirement is all the more pressing, leading many to continue working or alter their pension schemes .
Pensions deficit increased by market trouble
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Pensions deficit increased by market trouble
Tue, 25 Mar 2008
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