The aggregate funding position of the 7800 defined benefit schemes monitored by the Pension Protection Fund worsened to a £36.7bn deficit in August, figures show.
The PPF said its 7800 index stood at a £24.1bn deficit at the end of July. That deficit grew to £36.7bn at the end of last month. The lifeboat fund said scheme funding is worse than it was a year previously...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.