Menu Close

Lifeboat Fund Warns Of Volatility As Pensions Surplus Shrinks

view original post
By Martin Croucher (November 10, 2021, 1:40 PM GMT) — The average funding surplus of retirement plans shrank by £5.6 billion ($7.5 billion) in October, according to the U.K.’s pensions compensation fund, as it warned of the threat of “ongoing volatility” in the market.

The Pension Protection Fund said on Tuesday that the value of assets over liabilities at the 5,318 defined benefit retirement plans that it monitors fell from £108.8 billion in September.

The U.K. pension market has staged a gradual recovery since the start of the COVID-19 pandemic, when the stock market was in free-fall and pension plans faced a record collective deficit.of £288 billion.

The fall last month was the…