Final salary pension schemes reached a record £21bn surplus at the end of February, according to human resources consultancy Aon Consulting.
Aon says 62% of the 200 largest final salary schemes reached surplus, from a £12bn deficit at the end of January. However, the consultancy says few schemes would achieve a surplus under proposals by the Accounting Standards Board and a mortality assumption consultation from The Pensions Regulator. Under the combined proposals, February’s actual surplus of £21bn would fall to a deficit of about £180bn if recalculated. The Accounting Standards Board proposes companies should have to record pension deficits in their company accounts related to risk-free rates, which would add about £120bn t...
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