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BAE Systems tops-up company pension scheme

News that BAE Systems will be forced to top up the company's pension scheme by a further £500 million this year could well be a sign of things to come in the future. The company has confirmed that the recent fall in stock markets around the world has increased the company's pension schemes deficit by £2.2 billion. While BAE Systems would appear to be in a relatively healthy financial position and able to support the £500 million injection for 2009 many companies may not be as lucky.

We have seen literally billions upon billions of pounds wiped off pension schemes and pension plans around the UK with the level of falls set to increase in the short to medium term. This will place a significant pressure on a vast array of UK companies who are already suffering from a trading point of view and seeing their finances stretched to the limit. For some of the larger FTSE 100 companies we are talking about billions upon billions of pounds required in many cases to make up any potential shortfall although this may well be just the tip of the iceberg.

Pension experts around the UK are expecting a significant increase in pension advice enquiries as the UK public become more and more concerned about the situation.

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