Make a note in the diary. Friday, May 11 was the momentous day when Britain's top 200 pension scheme had an aggregate surplus for the first time since accounting standard FRS17 was introduced in June 2001.
The landmark moment, according to Aon Consulting, came at 3.25pm and marked an improvement of more than £50bn in net accounting valuations in two months. Indeed, scheme deficits have been on a rollercoaster...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.