Pension scheme deficits wiped out

Top firms have taken action over their pension schemes' deficit

Britain's leading companies have wiped out the multi-billion pound deficit in their pension schemes, according to accountancy firm Deloitte.

The country's top 100 share index companies' pensions now have a combined surplus of £15bn, the firm said.

Two years ago the collective black hole in the pension schemes of the top 100 firms was an estimated £75bn.

But analysts urged caution, saying a bad run on the stock market could turn the surplus back into a deficit.

The deep deficit of two years ago spurred firms to take action to safeguard their pension schemes.

Their newly robust health is a result of injections of cash, restructuring the schemes and a strong stock market.