Liabilities for UK pension schemes in the top 350 largest companies reached a high point in December, despite asset growth and £20 billion of contributions over the year.
The accounting deficit of defined benefit pension schemes in the UK increased very marginally over December and for 2012 as a whole, according to Mercer, a pensions consultant.
The estimated aggregate IAS19 deficit for defined benefit schemes in the FTSE350 stood at £62 billion – or equivalent to a funding ratio of 89% - at 31 December 2012.
This compares to a deficit figure of £61 billion at the end of November and a funding ratio of 90%, and a figure of £61 billion at the end of December 2011, with a funding ratio of 89%, using a like for like measure.
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