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Pension boom 'temporary'
MAJOR pension schemes in the UK are showing a record surplus of £21 billion – just a month after they hit a record low at the end of last month.
But the Aon200 index, which tracks the 200 largest UK privately-sponsored pension final salary schemes, warned that liabilities could slump into a massive deficit again, following recent proposals from the ASB and the Pension Regulator to change reporting regulations.
January's figures were a gloomy prospect for companies, showing a 12bn deficit. But while this month's numbers show a brighter picture, Aon Consulting says pension schemes face a further 200bn drop under the new proposals.
The main reason for the improvement in the month-on-month funding levels is the continued widening of the AA credit spread following the global credit crunch as AA Corporate bond yields have reached a seven-year high.
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Weather for Edinburgh
Thursday 24 May 2012
Today
Sunny spells
Temperature: 12 C to 21 C
Wind Speed: 10 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 10 C to 20 C
Wind Speed: 14 mph
Wind direction: North east
