Deficits

Private sector deficits have fallen for the third consecutive month as equity markets bounce back and falling yields slow down, research from the Pension Protection Fund reveals.

Government proposals to ease the burden of defined benefit deficits on employers by smoothing assets and liabilities could backfire, warns the National Association of Pension Funds.

Construction firm Balfour Beatty has seen its combined deficit increase by 23% as it consults with members on closing schemes to future accrual.

February's continued boost in equities has seen FTSE350 scheme deficits decrease according to Mercer despite continued negative deficit reports coming from 2012 final year results.

Former prime minister Tony Blair warned politicians are struggling to make the "right" decisions on pensions, public services and welfare due to short-term political pressure.

Troubled clothing retailer Peacocks has seen its scheme deficit increase by 73% as the scheme undergoes assessment to enter the Pension Protection Fund.

The Royal Bank of Scotland's defined benefit deficit has risen to £3.9bn over 2012 in a year which saw it fall as low as £1.7bn, its final results show.

The latest set of financial results from FTSE companies has re-ignited the debate over smoothing discount rates as strong asset returns were wiped out due to falls in discount rates.

National Express has seen its schemes' overall deficit increase more than ten times despite securing a buy-in for one of its three schemes.

AkzoNobel has slashed deficit recovery plans for its main UK schemes by almost €500m (£440m) over the last year as part of a strategy to cut costs and improve returns.