Defined benefit deficit reaches £36.7bn

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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 ...

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