Published by Andrew Vaughan on
The survey covers twelve Southern European companies with around £47.6 billion of UK pension liabilities between them.
Our report analyses the contributions paid, levels of deficit and levels of risk within the schemes. Data has been taken from the latest available financial statements of the UK subsidiary companies, which are as at 31 December 2016 in most cases. Although the companies are not named directly within this survey, they are represented by the same number in each chart throughout.
Some highlights from the report include:
Benefit payments from UK DB schemes generally increased between 2015 and 2016, with the average increase being 27%. It is still too early to say what the longer term effect of the Freedom and Choice flexibilities will be, but it will be interesting to monitor the situation in future years.
I hope you will find our report both interesting and useful as a benchmark of your UK pension exposure against other Southern European-owned companies.