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Pension schemes face deficit of £155bn
Almost 90% of defined benefit pension schemes in the UK were in deficit in the end of November, according to the Pensions Protection Fund (PPF).
The schemes in deficit at the end of last month - 6,690 of them - have a collective funding shortfall of £155bn. At the same time last year the figure stood at £53bn.
Figures releases by the PPF show that in November just 1,047, around 14%, of all pension schemes were in surplus, down from 2,400 in November 2007.
"Over the past year, the falling equity markets and bond yields have led to an overall worsening of the funding position," said a PPF spokesman.
Post Date: December 9th, 2008
The schemes in deficit at the end of last month - 6,690 of them - have a collective funding shortfall of £155bn. At the same time last year the figure stood at £53bn.
Figures releases by the PPF show that in November just 1,047, around 14%, of all pension schemes were in surplus, down from 2,400 in November 2007.
"Over the past year, the falling equity markets and bond yields have led to an overall worsening of the funding position," said a PPF spokesman.
Post Date: December 9th, 2008
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