Pension Capital Strategies (PCS) has reported that 2007 was a good year for pension scheme deficits. The total deficit in the FTSE100 pension schemes at 31 December 2007 is estimated to be £8bn. This is an improvement of £27bn on the position 12 months ago. Although equity markets have shown only modest increases in 2007, increases in interest rates have meant smaller pension liabilities. For the FTSE100, this means that total pension liabilities have reduced by an estimated £19bn to £389bn. Also, FTSE100 companies have helped the situation by paying extra contributions, estimated at £7bn, into their pension schemes to reduce deficits. However, this good news is tinged with caution on two fronts. First, the pensions regulator is encouraging pension scheme trustees to be more cautious on the funding of pension schemes, particularly when it comes to setting mortality assumptions. Also, new guidance on accounting standards (IFRIC14) may mean that companies have to recognise larger pension deficits in their accounts or that they will not be allowed to recognise pension surpluses in their accounts – which in turn could lead to companies deliberately under funding pension schemes to avoid surpluses that they cannot show in their accounts.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more