PCS

The funding position for private sector defined benefit schemes is £95bn worse off than this time last year, according to Pension Capital Strategies.

Private sector defined benefit pension schemes are 85% funded, Pension Capital Strategies says.

FTSE100 pension schemes racked up combined deficits of £72bn last year as economic turmoil sliced asset values.

Closing a defined benefits scheme to future accrual is a simple way of derisking, but as Gill Wadsworth points out, it is far from a problem-free solution and not the only option worth considering