Tom Birkin

XPS analysis finds that funding improved by nearly 20 percentage points over the year

Fall in bond yields follows market turbulence of September and October

Research finds most inflation-linked pension increases are capped at 5% for DB members

Funding levels continue to rise on the back of higher gilt yields, but outlook is uncertain

Calls for better-funded schemes to consider de-risking

Increase in inflation expectations has now added £140bn to DB liabilities since last July