PRESS DIGEST - Financial Times - Aug 11

The Financial Times

PENSION TRUSTEES TO SEEK MORE CASH

A study by KPMG suggests that companies could face demands from pension trustees and actuaries for more cash to be injected into corporate pension schemes due to the current state of the market. KPMG found that almost three quarters of blue chip companies could cover deficits using existing discretionary cash flows, while two thirds were already paying more than necessary over ten years. Michael Smedley, partner at KPMG, said trustees were likely to push for more cash from companies, but warned against them paying too much now: "Pension scheme survival doesn't depend on getting money this week; it depends on the long term health of the company."

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