The economic crisis provoked by Covid-19 led to a 5.1 percentage point fall in the average defined benefit (DB) funding position in the first three months of 2020, according to Legal & General Investment Management (LGIM).
The firm's DB health tracker recorded the funding level on its ‘expected proportion of benefits met' (EPBM) measure fell from 96.5% to 91.4% by 31 March, which LGIM said meant 8.6% of accrued benef...
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