Dutch and German companies with UK defined benefit schemes
Following on from our research of French companies with UK defined benefit (DB) schemes, we have carried out two further research reports for German and Dutch companies with UK DB schemes.
There were some surprising results, for example the average funding levels of UK DB schemes linked to German and Dutch parent companies were substantially better than those of the FTSE350 (11% and 9% respectively), and the total contributions paid last year (for past service deficit and current service) represented 13% of total staff costs for German companies and 15% of total staff costs for Dutch companies. This compared with a corresponding figure of just 7.7% of total staff costs for the FTSE350.
Our reports are based on data from the accounts of 19 UK subsidiaries of German companies and 14 UK subsidiaries of Dutch companies with around £60bn of UK pension liabilities between them (£22bn and £38bn respectively). The reports analyse the contributions paid, levels of deficit and levels of risk within the schemes.
Please click on the following links to view the full reports.