Funding targets increase despite fall in pension deficits

Mercer Human Resource Consulting reveals companies are going to have to continue to pay in large contributions to meet their pension scheme deficits, as a survey of 160 schemes reveal trustees are planning to increase funding targets by 10% following an actuarial valuation. The move follows the introduction on the Statutory Funding Objective (SFO) which requires most trustees renegotiate their scheme funding strategies with employers, and Mercer says the new legislation will cause employers and trustees to try and work out ways to fund their schemes without the continual need for extra co...