Deficits of UK defined benefit (DB) schemes rose £36bn to £264bn last month as a result of falling interest rates, figures show.
The latest estimate from JLT Employee Benefits shows funding levels dropped from 84% to 82%. Liabilities for private schemes increased by £56bn to £1.508trn, as a result of falling interest rate expectations....
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.