In brief...: Pensions just £9bn in red

Oct 19 2007

Defined benefit pension schemes have weathered recent stock market volatility to stand just £9billion in the red at the end of September.

The pension schemes of FTSE 350 companies were 98 per cent funded at the end of last month and collectively faced a deficit of £9billion, consultancy firm Mercer said.

Ftse 100 firms with defined benefit pensions had a collective shortfall of £6billion. But the group said that although the current funding position was strong, the volatile stock markets were still a risk to companies.