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Towers Watson analysed the disclosed information on pension plans in the annual accounts of the companies that make up the Index, which includes the likes of Adecco, Swatch and Credit Suisse, examining their pension liabilities and the scale and development of their pension costs. The study revealed that following a slight improvement in 2009 and 2010, funding ratios returned to their 2008 levels in 2011. The average funding ratio is now significantly below 90% once again. Towers Watson attributes the reversal of this trend to the marked fall in interest rates over the previous year. However, it adds there is some small consolation: in an international comparison, the pension funds of Swiss companies continue to be in a better position than those of foreign companies.
Towers Watson analysed the disclosed information on pension plans in the annual accounts of the companies that make up the Index, which includes the likes of Adecco, Swatch and Credit Suisse, examining their pension liabilities and the scale and development of their pension costs.
The study revealed that following a slight improvement in 2009 and 2010, funding ratios returned to their 2008 levels in 2011. The average funding ratio is now significantly below 90% once again.
Towers Watson attributes the reversal of this trend to the marked fall in interest rates over the previous year. However, it adds there is some small consolation: in an international comparison, the pension funds of Swiss companies continue to be in a better position than those of foreign companies.
PLANSPONSOREurope Staff editors@plansponsoreurope.com