Mercer: £39bn hit to FTSE350 Pension Schemes’ finances in October

5 November 2018

Mercer publishes on its website:

“Mercer’s Pension Risk Survey data shows that the accounting position of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies deteriorated by £39bn in October resulting in the largest deficit since October 2017.

The figures show a deterioration in funded status from those calculated at the end of September with funded status declining from a surplus of £3bn to a deficit of £36bn. The quoted funding level fell from 100% to 95%. Liabilities have increased from £764bn to £795bn due to a one-off increase in liabilities estimated at £15bn arising from the High Court judgment in the Lloyds GMP equalisation case, as well as a fall in corporate bond yields and an increase in market implied inflation. Asset values fell from £767bn to £759bn.”


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