Economic downturn sees £61bn wiped off FTSE350 values

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THE economic downturn has wiped around £61bn off the value of FTSE 350 pension schemes, a Mercer report reveals.

The consultant said funding levels of the biggest 350 listed UK firms had plunged from a surplus of £14bn at March 31 to a deficit of £47bn at June 30. It said the average funding level was now 90...

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