The Pension Protection Fund has seen its funding level improve by 1.2 percentage points, after enjoying above target returns in a year when it took on pension schemes of big corporates like Carillion.
The lifeboat fund's annual report for 2017/18 revealed its reserves have grown to £6.7bn, its funding ratio has risen to 122.8% as of March 2018 from 121.6% the previous year, and its assets grew by £1.2bn...
'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