Small Business Resources, Business Advice and Forms from AllBusiness.com

BT Hikes Pension Payments.

Jul. 14--BT Group is expected to have to increase the payments it makes into its final salary staff pension scheme by 50 percent to UKpound 300 million (euro480 million) a year to take account of the sharp drop in the value of equity markets.

The development comes after The Business revealed that the deficit within BT's pension scheme, the UK's largest pension fund, had doubled since March to reach almost UKpound 4.5 billion (euro7.2 billion).

The company's last actuarial assessment of the scheme in October put the deficit at UKpound 1.6 billion (euro2.56 bi

In addition, make sure to read these premium articles also available with your free trial:

T T T
art_print Printart_email Email 16x16-digg-guy  Digg It delicious-small  del.icio.us

Related Resources

Free AllBusiness Articles

  • Letters
    • A vision for provision Alan Orme blames FRS17 for the demise of final-salary pension schemes, and then criticises the public sector for retaining them (Letters, September). Nonsense! The spurious reasons for threatening final-salary schemes are the end ofthe tax credit, FRS17, the downturn in dividends etc. What do we pay ......
  • Experts fear pension chaos
    • HEADNOTE Actuaries are warning that FRS 17 could increase pension costs and prompt companies to close schemes to limit future volatility, writes Gemma Townley Flexibility is essential when applying the new pension scheme accounting standard (FRS 17). Actuaries are highlighting concerns that the standard could drive firms away from defined ......
  • Underfunded defined benefit pension plans: recent professional and legislative developments.
    • For nearly twenty years, Financial Accounting Standards (FAS) Nos. 87, 88 and 132 have been applied by accounting professionals to detail the economic impact of defined benefit pension plans within corporate financial reports. During the latter stages of the 1990s, superior investment returns coupled with relatively high interest rates created ......
  • Pension valuation under uncertainties: implementation of a stochastic and dynamic monitoring system.
    • ABSTRACT Financial soundness and funding stability are two critical issues in pension fund management. First, we construct a generalized stochastic model to monitor the solvency risk and cash flow dynamics of the defined benefit pension plan. A semi-Markov process proposed by Dominicis et al. (1991) and Janssen and Manca (1997) ......
  • Pension Expense? What Pension Expense?
    • The large increases in most equity market measures over the past few years have helped the net income of many firms that would not necessarily be expected to benefit from the stock market. A large part of this benefit is due to the earnings of the pension fund assets. Those ......
  • Anit-FRS17 lobby on warpath
    • HEADNOTE The standard has exposed massive deficits in funding. IMAGE PHOTOGRAPH 2 Docked: Dixons closed its final-salary scheme to new recruits in March Calls for changes to FRS17, the new pension accounting standard, have intensified following the publication of a report revealing that half of the FTSE 100 firms have ......
  • Recent Trends in Canadian Defined-Benefit Pension Sector Investment and Risk Management
    • HEADNOTE * Defined-benefit (DB) pension funds continue to account for the largest share of the assets of employer pension funds.1 In recent years, many DB pension plans have become underfunded, prompting a reassessment of investment and risk-management practices. * In Canada, as in other industrialized countries,2 funding deficits have highlighted ......

Blogs

Related Topics
Tools

Sponsored Links

Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy

Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.

Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.