UK - Pension funds have recorded the first surplus of 2008 but funding levels are still below last year, according to data released by the Pension Protection Fund (PPF).
The total value of scheme surpluses, £85.9bn (US$167.3bn), while higher than March 2008 levels (£57.7bn) was down from a year ago (£121.1bn).
Overall deficits fell from £81.3bn in March to £55.5bn in April but were significantly higher than 2007 levels of £32.8bn.
The aggregate funding level - total scheme surpluses minus total scheme deficits - rose to £30.3bn from a deficit of £23.6bn at the end of March 2008.
The PPF said the reason for the improved funding position was higher gilt yields caused a 3.4% fall in liabilities while improving equities markets increased the value of scheme assets.
Mercer has also released figures detailing the effects of increased mortality assumptions on FTSE 350 scheme liabilities.
The research showed firms have increased longevity assumptions by an average of half a year over 2007, which equated to an average increase of 2%, or about £8bn.
The research also showed the funding positions of FTSE 350 schemes improved slightly over the first quarter this year, with an aggregate surplus of £14bn compared to a deficit of £14bn at the end of December 2007.
Despite improvements in investment manager attitudes towards responsible investment, research reveals there is a way to go before the majority deliver meaningful action. Victoria Ticha explores why
The Co-operative Bank is set to continue de-risking pension schemes after it mitigated further losses by switching from the retail prices index (RPI) to the consumer prices index (CPI).
A model aimed at reducing climate change-related financial risk exposure from corporate credit assets has been launched by Insight Investment.
Universities Superannuation Scheme (USS) members should be responsible for most of the cost of increased contributions if the scheme's defined benefit (DB) section remains open to accrual, Pensions Buzz respondents say.