Irish pension deficits dwarf market caps

clock •

IRELAND - The 30 largest publicly traded companies in Ireland reduced their pension deficits by €2bn ($2.7bn) in 2010 to €24bn after at least half made changes to promised pension benefits but average deficits continue to outpace market capitalisations, a report by LCP Ireland finds.

LCP said in some cases, companies have implemented significant benefit reductions to bring down costs. However, pension funding is still in the red, with the average deficit running at 17% of marke...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

Author spotlight

Raquel Pichardo-Allison

View profile
More from Raquel Pichardo-Allison

A glimpse into our archives

TRS hands $6bn to KKR and Apollo, grows strategic partners programme

More on Ireland

Ireland

Building Ireland's new pensions regime

Like many other European countries, Ireland has been faced with the question of how to deal with its public sector pension liabilities. However, as the Bill makes its way through Parliament Helen Morrissey assesses whether the proposed changes will prove...

Helen Morrissey
clock 01 November 2011 •
Ireland

Taking a long-term view of Ireland's pensions

The Irish Association of Pension Fund's Jerry Moriarty looks at some of the major policy developments of the past year and asks what impact they will have in the future

Jerry Moriarty
clock 01 November 2011 •
Ireland

Brendan Howlin: Bringing change to Irish pensions

The Irish government has implemented a raft of contentious changes to its public sector pensions as it looks to reign in costs including raising the pension age and increasing contributions. Helen Morrissey talks to minister for public expenditure and...

Helen Morrissey
clock 01 November 2011 •
Trustpilot