NEWS RELEASE
Wednesday 4th August 2004
Good News for Pension Schemes, But Still a Long Way To Go - STUC
Today's report from Lane, Clark and Peacock actuaries highlighting the combined pension fund deficit of the FTSE 100 companies fell from £55bn to £42bn in the year to July was welcomed by the STUC with cautious optimism.
STUC Assistant Secretary Ian Tasker said
"Many employers are still closing secure final salary pension schemes placing workers' deferred pay at risk.
"Unfortunately the improvement in the deficit figure does nothing for those who have witnessed their final salary scheme being closed without consultation and having less favorable and high risk schemes thrust upon them."
ENDS
For further details contact: Ian Tasker David Moxham