Report: The FTSE 100 and their pension disclosures

JLT Employee Benefits has published its latest quarterly report on the state of FTSE 100 pension schemes.

Key findings:

• The total deficit in FTSE 100 pension schemes at 31 March 2017 is estimated to be £56 billion. This is a deterioration of £9 billion from the position 12 months ago.
• Only 51 FTSE 100 companies are still providing more than a handful of current employees with defined benefit (DB) benefits. Of these, only 19 companies are still providing DB benefits to a noteworth number of employees.
• There continues to be significant funding of pension deficits. Last year saw total deficit funding of £10.6 billion, up from £6.3 billion the previous year.
• There are a number of companies reporting very important individual changes to investment strategies. Four FTSE 100 companies changed their bond allocations by more than 10 per cent.
• Only 26 companies disclosed a pension surplus in their most recent annual report and accounts; 63 companies disclosed pension deficits.