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Quarter of firms worried about final-salary deficits

Research by the firm shows that 26 per cent have concerns about their final-salary schemes while only 11 per cent feel more confident about their schemes than they did 12 months ago and 63 per cent say there has been no change in their attitude.

Pru says the manufacturing and financial services sectors are showing signs of increased optimism, with 14 per cent of employers feeling more positive than they did last year.

According to research by the Pensions Protection Fund, the combined deficit of final-salary pension schemes in the UK is over £100bn.

Many firms have injected millions of pounds into their final-salary schemes to plug the gaps but many still face significant shortfalls.

Of the 200 firms interviewed, 42 per cent say they would consider implementing a risk management solution in the next 12 months.

Prudential UK chief executive of retirement income Andy Briggs says: “The recent drop in stockmarkets has added further pressure on defined-benefit pension schemes. Finding the most effective risk solutions to alleviate pension deficits is a universal problem for the majority of companies.”

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