Deficits

Defined benefit schemes experienced an increase of more than £170bn in total deficits in 2009, marking the worst year on record, Pension Capital Strategies says.

The aggregate pensions accounting deficit for the 200 largest UK pension schemes has ballooned to £103bn - topping the £100bn for the first time ever, Aon Consulting's Aon200 index reveals.

Scott Wilson Group has reported a tripling of its defined benefit scheme deficit over the past six months after declining corporate bond yield rates caused accounting valuations to soar.

British Airways has reached a provisional deal with trustees over the level of its pension scheme deficits.

The Royal Mail pension scheme is straining under the pressure of a potentially record-breaking pensions deficit, the company says.

The aggregate funding position of the 7400 defined benefit funds monitored by the Pension Protection Fund improved to a deficit of £92.5bn in November.

Construction company Costain has closed its £450m DB scheme to future accrual.

ITN has closed its defined benefit scheme to future accrual.

Ofcom has published a consultation on how it accounts for BT's pension costs when setting regulated wholesale charges for telecommunications services.

Schemes need to prepare for the return of inflation in case central banks fail to control upward pressure on prices, Watson Wyatt says.