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Latest NewsEconomics, government & businessBusiness performancePay & benefitsPensions

Pension fund deficit increased in top 200 companies after July share price slump

by Greg Pitcher 31 Jul 2007
by Greg Pitcher 31 Jul 2007

The July downturn in share prices has increased the deficit at the UK’s largest 200 pension schemes – although 30% remain in surplus.

The market fell so much on 26 July alone that it wiped £9bn off the balance sheets of the top 200 pension funds.

This pushed the aggregate deficit of those firms up to £13bn after two months where it hovered near zero, according to Aon Consulting.

However, three in 10 of the largest 200 UK pension funds – and 40% of FTSE 100 companies’ schemes – remain in surplus.

Marcus Hurd, senior consultant and actuary at Aon Consulting, said: “It is increasingly apparent that UK plc is divided between those with pension schemes in surplus and those with schemes in deficit.”




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