DB schemes close 2016 with record year-end deficits

James Phillips
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JLT Employee Benefits director Charles Cowling
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JLT Employee Benefits director Charles Cowling

The aggregate deficit of FTSE 350 defined benefit (DB) schemes more than doubled in 2016, causing funding levels to plummet 10% in 12 months.

At the end of December, the combined deficit stood at £191bn on an IAS 19 accounting measure basis, according to the latest monthly update from JLT Employee Benefits. This is compared to £81bn at the...

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