UK - The equity market recovery slashed £24bn from the pension deficits at FTSE100 companies last year, new research shows.
Investment bank Dresdner Kleinwort Wasserstein says the FRS17 deficit under its assumptions fell from £58bn to £34bn, due principally to steady market recovery.
The research also compared UK pension provision with other European countries and found that Britain’s schemes had the best funded status. Reports author and UK equity strategist Karen Olney said: “This change has come at the end of the worst bear market for several years and the recovery in equity markets and bond yields have slashed deficits.”
In this week's Pensions Buzz, we want to know whether you think a contract-based, trust-based or a master trust arrangement would be best for a new defined contribution scheme.
The £28bn Brunel Pension Partnership has opened a tender for active equity managers to oversee around £1.8bn of the pool's assets.
RPMI Railpen has injected £7m of new equity into full-fibre internet service provider, Community Fibre.
The Pensions Regulator (TPR) is to prosecute Samuel Smith Old Brewery and chairman Humphrey Smith for failing to provide information and documents for an ongoing investigation.