02 October 2009
A recent study by KPMG has revealed that the deficit on British
pension funds has soared by £100bn since the start of the
year.
Despite the record surge on the stock market over the past three
months, the black hole in private sector pension schemes now stands
at £180bn.
The warning came as engineering giant Smiths Group became the
latest British blue-chip company to close its final salary pension
scheme, which has a deficit of £340m.
