The aggregate deficit of UK defined benefit (DB) schemes surged to a 'staggering' £135.9bn in March, up from £124.6bn at the end of February, latest Pension Protection Fund (PPF) data has revealed. At the start of 2020 the aggregate deficit figure stood at just £10.9bn, while aggregate asset values plummeted from £1,720.9bn in February to £1,680.5bn in March. AJ Bell said the fall in the value of liabilities over the same period, from £1,845.5bn to £1,816.4bn, helped mitigate the impact. Tom Selby, a senior analyst at AJ Bell, commented: "As the coronavirus shutdown has forced economi...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes