The combined deficit of the UK's 5,588 private sector defined benefit (DB) schemes was £85.6bn at the end of June, according to the Pension Protection Fund (PPF).
The shortfall dropped by £8.4bn on a section 179 basis over the month, the lifeboat fund's 7800 Index recorded, leading to a 40 basis point (bp) improvement in the funding level, which ended the month...
'Not appropriate to comment'
Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.
Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.
John Wotton says the competition watchdog's package of proposals will help trustees get the best deal and be satisfied they are acting in their members' best interests