Publication

Accounting for pensions

Pensions & benefits DB corporate consulting DC corporate consulting Corporate strategy DB pensions DC pensions

Our annual accounting for pensions report presents a concise analysis of the pensions facts, figures and trends revealed by FTSE100 companies reporting in 2023.

The new normal?

Making the most of multi-billion £ pension surpluses

LCP’s latest accounting for pensions report analyses the 2023 disclosures of FTSE100 companies. This year our report highlights how pension surpluses now appear to be embedded, and how the Government could make it easier for surpluses to be returned to companies where they are not required by the schemes themselves.

What's inside?

Making the most of continued surpluses
IAS19 assumptions benchmarking
Hot topics for Finance Directors
Executive pensions benchmarking

Explore the report

Read now

The FTSE100’s UK DB pension schemes have been in surplus four years in a row – is this the new normal? These surpluses appear to be being used to reduce risk, with bond and cash allocations ballooning to almost 75% of assets and 1 in 5 undertaking an insurance transaction in 2023. The coming year or two may well be pivotal – will we continue relentlessly down the current de-risking path, or will schemes and sponsors pivot to try and take advantage of the new normal?

Luke Hothersall Partner and co-author of the report