Pension schemes lose 2007 gains as markets plummet

Aon says UK pension deficits rose by £15bn yesterday as markets dived; the highest single-day pension deficit rise since the introduction of financial reporting standard FRS17 in June 2001. This morning it fell a further £9bn, leaving the deficit for the top 200 UK schemes at £42bn. Marcus Hurd, senior consultant and actuary at Aon Consulting, says: "Whilst alarming, the falls will only be of immediate concern to those who are looking to either settle their liabilities in the short term or who have to report the value of the scheme deficit publicly. “Many companies have recently report...