US - The stock market rally in April drove a 1.5% improvement in the funded status of the typical US pension plan, according to BNY Mellon Asset Management.
For the year to date, the funded status of the typical US pension plan has declined 2.3%.
Peter Austin, executive director of BNY Mellon Pension Services, said: "US stocks finally rallied after five months of negative performance as Fed easing and liquidity facilities calmed the markets."
"However, corporate yield spreads narrowed impressively against Treasuries, with long corporate bond yields 10 basis points lower than last month.
"Lower yields on longer-term corporate bonds resulted in higher liabilities for the typical pension plan," concluded Austin.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.