ISEQ-listed firms in €3.5bn pension deficit

THE 27 quoted companies on the Irish Stock Exchange who operate defined benefit pensions schemes are running deficits totalling €3.5 billion, according to a study conducted by Attain Consulting.

The total pension accounting deficit for Irish- based ISEQ quoted companies has been estimated at 12-14% of their market capitalisation, Attain calculates.

“Having regard to the falls in asset values and movements in bond yields, we estimate the total pension accounting deficit for Irish- based ISEQ quoted companies was close to €3.5bn by the end of August, with the result that a lot of the hard-earned recovery since the middle of the decade has been given up,” the report states.