Wednesday, 12 May 2010

Pensions in deficit as stock market falls hit asset values

Telegraph-Research conducted by the Pension Protection Fund showed the aggregate deficit of the UK's largest 7,400 schemes swung to a £2.2bn shortfall from a £300m surplus in March - the first since before the financial crisis in June 2008.

The overall deficit was driven by a fall in the value of schemes' assets, which dipped by 0.2pc due to equity market falls and a slight rise in pension liabilities. Overall, 69pc of defined benefit pension schemes now faced a deficit at the end of the month, according to the pensions lifeboat. more


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