Aggregate deficit of PPF 7800 balloons to £107.7 billion as funding level drops 4.1%.
Tag: Defined Benefit Plan
Contributions may increase for existing beneficiaries.
Milliman reports a 1.7% drop in the funded ratio of US DB plans from the end of 2017.
Despite the sharp rise, the aggregate deficit is down 29% from 2017.
Report finds pubic pensions are hunkering down as corporate pensions are winding down.
Cites problems coming from “highly optimistic” rate of return, lack of employee contributions.
Low interest rates, and a rising global economy boosted returns.
Survey finds 19% of defined benefit plans have a funded status higher than 101%.
Leverage of six largest funds in country has risen to 24% from 19% in 2009.
Union says changes could cost some workers 70% of their retirement funds.
Report says 53% of UK employers believe defined benefit plans negatively impact salary raises.
Closure would protect existing benefits, but unions express “dismay and bitter disappointment.”