Defined benefit (DB) schemes fell back into deficit on aggregate over December as gilt yields and asset returns fell, the Pension Protection Fund (PPF) says.
At the end of 2018, the combined funding level of 5,450 schemes was 98% with a deficit of £31.9bn on a section 179 basis, compared to 100.9% and a surplus of £14.3bn in November. Some 3,271 schemes...
Universities Superannuation Scheme (USS) has reported a technical provisions deficit of between £14.9bn and £17.9bn as of 31 March 2020, and delayed its valuation as it considers how to proceed.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the February 2021 estimates on the various measures…
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.