Proposed new rules and guidance on how quickly companies should shed their pension fund deficits could put one in five UK companies out of business, the CBI employers' organisation warned yesterday.
The Pensions Regulator has produced for consultation new rules intended to allow trustees and employers to agree how to eliminate pension fund deficits estimated at nearly £70bn for FTSE 100 companies alone.
The regulator is looking for certain schemes to eliminate deficits over a decade and has set out various accounting "trigger points" that should lead trustees to insist that deficits are addressed.
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