UK - The total deficit of FTSE100 pension schemes decreased to £66bn ($105bn)in the third quarter, Pensions Capital Strategies analysis shows.
The consultant said the position was a marked improvement from a year ago, with an £8bn deficit reduction.
PCS said there had been a significant increase in pension scheme funding at a time when blue chip companies had "little cash to spare".
The total deficit funding last year amounted to £12.1bn - up from £4.1bn the year before which works out to an increase of almost 200%.
PCS said Royal Dutch Shell led the way with a massive deficit contribution of £2.7bn in their latest set of accounts.
However, there has been a £1bn reduction in provision of ongoing DB pension provision - a fall of 15% in 12 months.
The report, [asset_library_tag 2120,The FTSE100 and Their Pension Disclosures], also showed pension schemes' flight out of equities into bonds has halted. The average scheme's allocation to bonds is now 49%, the same as last year. This comes after a very significant shift, from 41% the previous year, and 35% just three years ago.
PCS managing director Charles Cowling said: "Despite £12.1bn of deficit funding over the past 12 months, we estimate the pension deficit for FTSE 100 stands at £66bn as at 30 September.
"There has been a pause in the shift into bonds, and the asset allocation to bonds remains at 49%, which is the same as last year. However, we believe this is only a temporary respite for equity allocations. As more companies look to close down risk in their pension schemes we expect bond allocations to continue to rise to 75% within five years."
He added that while it was pleasing to see a funding improvement, it appears this was partly as the expense of ongoing provision.
In the last 12 months, the total disclosed pension liabilities of the FTSE100 companies have risen from £376bn to £437bn. A total of 14 companies disclosed pension liabilities of more than £10bn, the largest of which is BT with disclosed pension liabilities of £43bn.
Some 27 companies disclosed pension liabilities of less than £100 million, of which 15 companies have no defined benefit pension liabilities whatsoever. For British Airways, BT and Invensys, total disclosed pension liabilities are more than double their equity market value.
Cowling said: "While the proposed change to CPI based pension increases from RPI based pension increases will help many companies, it is clear that there is still a long way to go in tackling pension liability and deficit issues in the FTSE 100."
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