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Big variations between blue chip pension liabilities

The value of assets of pension schemes of FTSE100 companies exceeds their liabilities, but only just, according to a survey by consulting actuaries Hymans Roberts.

FTSE100 pension scheme assets total £227bn, while liabilities calculated under the new FRS17 accounting standard total £224bn.

But FRS17 funding levels vary from 70 per cent of liabilities for some companies to 140 per cent for others.

Hymans Robertson partner Crawford Taylor says: “Although FRS17 has had a bad press it is clear that it has achieved one of the Accounting Standards Board&#39s objectives of materially improving the degree of transparency and consistency in reporting pension expense to investors.”


Correspondent&#39s week

Having shipped my gear over to the Isle of Wight on Friday, I pitch up at 8am for my first day on duty at Skandia Life Cowes Week. We kick off by hosting a press briefing for Emma Richards, who is sailing around the world single-handed. Then it is off to another press briefing at […]

Only three UK sectors positive in July says Lipper

Only three of the 31 Ima UK unit trust and Oeic sectors produced positive returns in July according to the latest Lipper monthly fund market report.None of the equity sectors produced a positive return in the month, the three that were the Index Bear funds at 3.1 per cent, UK Gilts 0.23 per cent and […]

Standard sets up range of fixed loans

Standard Life Bank is launching a new range of fixed rate Freestyle mortgages with the first fixed until May 20, 2005 at 4.9 per cent on loans to value up to 90 per cent and 5.09 per cent on LTVs up to 95 per cent. The second is fixed until October 15, 2007 at 5.09 […]

C&G offers new tracker mortgage

Cheltenham & Gloucester is offering a new Premium Tracker Mortgage with a rate that undercuts the Bank of England base rate by 0.01 per cent.The rate applies until the end of 2003 when it reverts to 0.5 per cent above the Bank of England base rate before reverting to the company’s standard variable rate after […]


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