Scheme deficits cut by £38bn in past 12 months

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PENSION scheme deficits have shrunk by £38bn in the past 12 months and the average scheme funding level has reached 99pc, according to Aon Consulting.

Aon said 2007 marks the second consecutive year where companies have reported deficit gains in excess of £30bn. The aggregate deficit of the 200 largest UK defined benefit schemes has “improved...

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