Companies’ ability to fulfil pension schemes promises at its lowest level since the recession- according to PwC’s Pension Support Index.
New research by PwC reveals the ability of FTSE 350 companies to fulfil their defined benefit (DB) pension obligations has sunk to its lowest level since the recession. PwC analysis shows that despite growth in the FTSE, the relative support companies provide to their pension schemes has weakened significantly.
PwC’s Pension Support Index tracks the relationship between the financial strength of the FTSE 350 companies and the size of DB pension scheme commitments, rating the overall level of employer support offered to these schemes. This year’s score of 69 out of a possible 100 is down from 82 the previous year, and is the lowest score since 2009.
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