Year–high pension scheme deficits

Pension scheme deficits reached their highest point this year during November against background of poor economic news, according to figures released today by pensions consultancy firm Mercer.

The aggregate FTSE 350 defined-benefit pension deficit stood at £80 billion at 30 November, compared to £60bn at 31 October.

Ali Tayyebi, senior partner at Mercer, said: “We are beginning to see the bad economic news catch up on the accounting numbers, which had so far been relatively protected in the midst of the economic turmoil.”