'Gaping chasm' in pension scheme funding

clock

The aggregate deficit of 7,800 defined benefit schemes monitored by the Pension Protection Fund increased by £58.5bn in December.

The lifeboat fund said the shortfall soared from £136.0bn at the end of November to £194.5bn at the end of December. And it said overall scheme funding had deteriorated significantly since December 2007 - when its PPF7800 index recorded a surplus of £11.7bn. The PPF also found the total deficit of schemes in deficit had worsened from £155bn at the end of November 2008 to £209.5bn at the end of December 2008 - a decline of £54.6bn. This is in stark contrast to December 2007, when the total deficit of all schemes in deficit stood at £66.7bn. The PPF said the total surplus of schemes i...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read
Schroder Investment Solutions expands distribution of MPS

Schroder Investment Solutions expands distribution of MPS

Expanding the range of DFM choice on the Parmenion platform

Ayesha Venkataraman
clock 06 December 2022 • 2 min read