LCP Accounting for Pensions 2013
A look back over 20 years' statistics as well as highlighting current facts, figures and trends in defined benefit pension schemes across the FTSE 100.
Pension planning continues to be blighted by seemingly constant regulatory and legislative change. In the past 12 months alone we have seen the re-introduction of automatic enrolment; the announcement of a flat-rate State pension and the end of contracting out; and further changes to the IAS19 accounting standard.
Nevertheless, FTSE 100 companies remain responsible for pension liabilities worth nearly £0.5 trillion - a responsibility that presents a greater challenge now that pension scheme assets cover only 91% of the liability value than seemed to be the case in 1994. Back then companies reported an average funding level of 120%.
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