Pension deficits fell in 2009

Pension deficits fell among UK firms during 2009, but the overall improvement masks yawning liabilities at some notable names including British Airways, research to be published today will show. The report by consultants Hymans Robertson on the ability of FTSE 350 companies to support their pension schemes shows the median deficit fell to 6p per pound of market capitalisation in 2009 from 12p a year earlier. The improvement was due to a recovery in asset values in the second half of 2009.