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Companies cut pension deficits
RISING equity markets and a renewed focus on deficit funding have slashed the UK private sector’s pension deficits from £148bn last year to £79bn this year, research published yesterday revealed.
“Despite the recent turmoil in markets, the last 12 months have been quite good for companies weighed down by pension liabilities and deficits,” commented Charles Cowling of JLT Pension Capital Strategies.