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The black hole in the pension schemes of Britain's biggest companies has been shrinking.

An annual health check of the UK's top company pension schemes says the total pensions deficit of Britain's leading companies has fallen sharply over the last year.

FTSE 100 firms made record payments into their schemes over the past year, paying in £17.5bn to help reduce their accumulated deficits, according to actuaries LCP.

But it also says nearly a quarter of the firms have made their final salary schemes less generous for existing members.

Hugh Pym reports.

  • 04 Aug 2010