Pension deficits in Britain halved

PENSION deficits of Britain’s largest quoted firms have halved over the past two months due to a buoyant stock market and better bond yields, research showed yesterday.

A report by accountants Deloitte said the total deficit of companies in the FTSE 100 Index now stands at £60 billion (€86bn) against a peak of £110bn (€157bn) in the middle of January.

It follows a recent rally by British stocks with the FTSE breaking through the 6,000 barrier for the first time in five years.