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Gilt yield and asset price falls caused a higher deficit
Defined benefit (DB) schemes saw a £21.1bn growth in their funding shortfall last month as both gilt yields and equities suffered falls, according to the Pension Protection Fund (PPF).
On the section 179 measure, the aggregate deficit of the UK's 5,588 DB schemes was £72.1bn as of 28 February, compared to £51bn at the end of January. The value of assets fell by £8bn while liabilities...
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