Funding for UK Pension Protection Fund Plans Rises Slightly in June
The aggregate funding ratio for the more than 5,000 British pension plans remained unchanged at 149.4%.
The aggregate funding ratio for the more than 5,000 British pension plans remained unchanged at 149.4%.
Oliver Morley will become CEO of the U.K.’s Money and Pensions Service.
Thanks to surging bond yields, the aggregate funded ratio of the PPF 7800 rose to 120.1% in June, up from 106.5% a year ago.
The total deficit for the plans is nearly halved as the funded ratio climbs to 98%.
Deficit for UK defined benefit plans fell to £71.1 billion.
Funding level falls to 95% from 97%.
Aggregate deficit of the PPF 7800 increased more than tenfold to £69.9 billion.
Regulators satisfied with £385 million package despite demanding £25 million more.
Aggregate deficit of PPF 7800 balloons to £107.7 billion as funding level drops 4.1%.
Aggregate deficit of nearly 5,600 plans plunges more than 65% in August.