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UK Pensions Deficit Grows

The UK Pension Protection Fund published its monthly update today. Since July 2007, it has published the latest estimated funding position, on a s179 basis, for the defined benefit schemes in its eligible universe.  The aggregate deficit of the 5,588 schemes in the PPF 7800 Index is estimated to have increased over the month to £94.0 billion at the end of May 2018, from a deficit of £81.7 billion at the end of April 2018.  The funding level decreased from 95.1 per cent at end of April 2018 to 94.5 per cent.   Total assets were £1,611.2 billion and total liabilities were £1,705.2 billion. There were...