Final-salary pension fund deficit doubles at Britain’s blue chips

Via Final-salary pension fund deficit doubles at Britain’s blue chips :

The shortfall in FTSE 100 blue chip final-salary pension schemes more than doubled in the past year to a record £96 billion, according to a new survey. The slide in equity markets and the fallout from the collapse of Lehman Brothers, the former Wall Street banking group, were blamed.

Bob Scott, a partner at LCP, said that pension deficits had ballooned since March as a result of falling interest rates and the Bank of England’s “quantitative easing” policy, designed to help to kick-start the economy.