Pension deficits grow despite two weeks of hope

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FTSE 100 pension scheme deficits dropped by £11bn in just two weeks last month, yet still increased by £6bn over the month.

According to consultancy Watson Wyatt, the deficit in the pension schemes of the FTSE 100 companies was £66bn on 31 January, down from £77bn when long-term bond yields hit their low point on 18 January. Yet despite this recovery, pension deficits still showed an overall increase from December’s £60bn figure.