Increased cash injections from employers and a buoyant stock market during the first half of 2007 have seen pension funds among the FTSE 100 companies achieve a significant turnaround, it has been reported.

In comparison to the £75 billion of shortfalls that existed in 2005, a new report from the accountancy firm Deloitte has revealed that there is a current surplus of £15 billion among blue-chip pension funds.

According to Deloitte pensions partner David Robbins, companies are likely to seek a full resolution of their pension problems over the coming year.

"Options that include transferring pension schemes to new specialist pension buyout companies are beginning to look viable," he said.

Furthermore, the surplus is likely to rise to £30 billion by the end of the year, the report also predicted.

However, some critics have argued that such a turnaround is largely illusionary given that the AA-rated corporate bonds against which funds' performances are measured have fallen in value in the wake of the subprime crisis, thereby lowering the benchmark.

The new figures come as BBA employees consider taking industrial action over the airport operator's plans to close its final-salary pension scheme.