Pension sector back in the black
by Kay Murchie
Research from the actuarial group, Lane Clark & Peacock, has declared that the pension sector is back in the black for the first time in 5 years. Over the last year, the UK’s top FTSE 100 companies have achieved £12 billion surplus from £36 billion shortfall.
The group thought this was attributed to better stock market performance and bond yields, as well as companies, piling record contributions into pensions.
However, the company warned that schemes are still weak and are not yet out of the woods. The pension sector continues to be in the limelight.
Gordon Brown’s 11th and last Budget before he became prime minister saw the axing of pension terms assurance resulting in low income families struggling to make ends meet.
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