Pension Deficits Fall £59B In August, But Outlook 'Worsens'

Law360, London (September 8, 2020, 1:27 PM BST) -- Defined benefit pension deficits fell by £59 billion ($77 billion) in August, the retirement savings lifeboat fund said, but experts warn the long-term outlook is less than rosy.

The Pension Protection Fund said that the total deficit among 5,422 defined benefit schemes fell from £199.5 billion at the end of July to £140.5 billion at the end of last month.The figure reflects an "overall improved position," Lisa McCrory, chief finance officer of the fund, said.

The size of the national deficit tallies with the findings of a survey by broker Mercer, which found that deficits among defined benefit schemes linked with the top...

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