Daily Telegraph, February 20th 2004, p.35
Reports concerns that the Pension Protection Fund proposed in the Pensions Bill will fall into deficit and collapse unless companies are forced to make up shortfalls in their pension funds. Swiss investment Bank UBS estimates the shortfall between value of pension funds and the cost of meeting all liabilities was around £28bn for FTSE 100 company pensions schemes in December 2003.
London: TSO, 2004 (Session 2003/04; Bill 57)
(For comment see Daily Telegraph, Feb.13th 2004, p.33; Independent, Feb.13th 2004, p.23; Financial Times, Feb. 15th 2004, p.4; Times, Feb.15th 2004, p.28)