Pension deficits soar 15% this year to €5.4bn

PENSION deficits at Irish-listed companies have soared 15% to €5.4 billion since the start of the year.

The combined deficits at three Irish banks account for almost half of this figure, according to Attain Consulting.

The deficit at AIB at the end of June was €1.26bn, and €1.47bn at Bank of Ireland at the end of September. The deficit at the end of June at Irish Life and Permanent was €242m.