Pension Capital Strategies has released its latest quarterly report investigating the pension disclosures of the FTSE100 companies. The report, The FTSE100 and Their Pension Disclosures, published in association with Numis Securities, explores the pension disclosures of the FTSE100 companies, as well as the steps being taken to address pension scheme deficits. It contains updated pension deficit and disclosure details from the FTSE100 and includes the most recent financial information from the companies’ annual report and accounts. The findings reveal that the total pension fund deficit in FTSE100 pension schemes on 31 March 2007 is estimated to be £20bn, down from £40bn one year ago and down from the £35bn revealed in the PCS January 2007 report. However, the pension disclosures on mortality assumptions suggest that the FTSE100 companies are still underestimating the impact of future improvements in longevity. Sixteen companies show a pension surplus in their most recent annual report and accounts, compared with only five companies on 31 December 2006. In addition, the total amount contributed to FTSE100 pension schemes has increased from £11.8bn to £13.4bn. This includes deficit contributions, which now total £5.1bn.
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