The total deficit of schemes in the Pension Protection Fund (PPF) 7800 index fell to £262.5bn at the end of October as both gilt yields and equity markets rose.
This puts defined benefit (DB) funds in a better position than the previous month when the aggregate deficit was 16% higher at £311.7bn, and the funding ratio has also improved from 79.9% to 82.7%...
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The Aberdeen City Council Transport Fund has agreed a £230m buy-in with Rothesay in the insurer’s first deal with a Local Government Pension Scheme (LGPS) fund.
The Legal & General (L&G) Group UK Senior Pension Scheme has agreed an assured payment policy (APP) deal with its insurer sponsor.
The Debenhams brand and website has been acquired by online fashion retailer Boohoo for £55m, although the pension scheme, shops, and stock will not be purchased.
Con Keating says last week’s Pensions Buzz survey indicates the true feeling of directly affected schemes to The Pensions Regulator’s DB funding code proposals.