UK companies with deficit-stricken pension schemes might be advised to make haste to their actuaries and follow a lead set by BT this morning - corporation tax is coming down and so too is the amount they can reclaim from deficit-reduction contributions.

BT, which runs the UK's largest pension scheme, announced this morning that it was bringing forward a scheduled £505m payment to help shrink the fund's deficit this week, as it would be 'economically beneficial to do so'.