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FTSE 350 pension deficits rise
Large companies’ pensions deficits rose sharply last year, fresh data showed yesterday. FTSE 350 deficits, recorded under accounting rule IAS19, jumped to £67bn in 2011, compared to £43bn at the start of the year. Actuarial firm Hymans Robertson, which compiled the data, said the results masked an even more severe deterioration in companies’ positions.