Pension Deficits For UK's Biggest Firms Fall £21B In August

Law360, London (September 2, 2020, 3:58 PM BST) -- Deficits in the pension plans of the country's largest employers shrank by £21 billion ($28 billion) in August, broker Mercer said, although the figure is much higher than before the pandemic.

Mercer's monthly survey data found that the funding shortfall of the defined benefit pension schemes associated with the country's top 350 companies fell from £103 billion at the end of July to £82 billion by Aug. 28.

The numbers mark the first sign of recovery for deficits, which grew rapidly with market volatility during the initial months of the pandemic. Deficits in defined benefit plans were £67 billion at the...

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