Pension deficits starting to fall - Regulator

The watchdog's report - which analysed recovery plans and clearance applications received between September 2005 and September 2007 - found scheme funding levels had improved, trustees had strengthened mortality assumptions, and average recovery plan periods had reduced. But it warned economic factors affecting recovery plans received over the next year would be "very different". It said it expected trustees to keep existing recovery plans under review - and to keep a watch on the strength of the employer covenant. The regulator also said schemes should put less weight on FRS17 as a f...