IAS19 blamed for covering true pension position
Many pension funds will show a surplus in the year-end accounts despite the true position being that the schemes have moved to record deficits.
According to Aon Consultng figures, FTSE100 final salary schemes will record a deficit of £155bn for the 12 months to November 2008.
However, the risk group said accounting rule IAS19 will mean accounts will show a £13bn surplus for the top 200 companies.
Aon said the rules allowed the yield on bonds to cover up poorly performing investments in the stockmarket.
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