The combined pension deficits of the 100 largest companies in the UK has more than doubled in the last year, meaning that the FTSE 100 will have to soar to over 6000 - a level not seen for nearly three years - for the shortfall to be wiped out.

According to new research from Lane, Clark & Peacock, an actuarial consulting firm, the contributions paid into the companies' pension schemes in 2002 fell £600m (€848m) short of the FRS17 value of benefits awarded over the same period.