Underfunded defined benefit (DB) pension schemes in the UK are over-dependent on historically improbable equity returns, analysis by Willis Towers Watson reveals.
The deficit of defined benefit (DB) pension funds was £200bn at the end of February, according to figures released by PwC's Skyval index, £10bn lower than at the end of January.
Defined benefit (DB) schemes saw their aggregated deficit more than double over December, ending 2018 with a funding level of 93.5%, says JLT Employee Benefits.
Defined benefit (DB) schemes ended November in an aggregate surplus position for the first time since 2011, according to Pension Protection Fund (PPF) figures.
Southern Water will be forced to cough up more money for its pension scheme earlier than planned after The Pensions Regulator (TPR) intervened in what it said was "unfair treatment" of the scheme.
All UK private sector defined benefit (DB) schemes saw a £10bn improvement in funding on a gilts plus basis last month, according to PwC's Skyval index.
Pension deficits at the UK's 350 largest listed companies fell by £27bn over the 18 months to June on an accounting basis, according to Barnett Waddingham.
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 UK's 100 largest listed companies saw their combined defined benefit (DB) deficit fall by 75% during June, bringing them very close to fully-funded status, according to JLT Employee Benefits.
Defined benefit (DB) schemes had an aggregate deficit of £200bn on a gilts plus measure at the end of May, according to PwC.