Pension deficits hit by markets
Chronically weak stock markets and record low bond yields have pushed company pension deficits in Britain and the US sharply higher, adding to the burden of retired people living longer than ever before.
In the US, the aggregate deficit of S&P 1500 companies grew $59 billion (£38bn) in the first half of the year to $543bn, consultancy Mercer said.
Corporate America is sitting on total liabilities of $2.09 trillion against total assets of $1.55tn, Mercer added.
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