Final salary pension schemes registered a deficit last month after moving briefly into surplus in the previous month.
According to the Pension Protection Fund (PPF), the UK’s 7,400 final salary pension schemes were collectively £2.2 billion in deficit at the end of April.
This compared with a surplus of £0.3 billion in March.
The current total deficit, however, is modest when contrasted with the £188 billion deficit recorded a year ago.
A dip in share prices during April meant that the value of assets was no longer outperforming the actual costs of paying for pensions.
This material is for informational purposes only and should not be relied upon as professional advice.
