PPF shows healthy pension scheme improvements
by Brian Turner
The Pension Protection Fund (PPF) has shown that UK pension funds in September had an overall surplus of £44 billion.
This is up from a surplus of £27 billion last month, and a £31 billion deficit last year.
However, while pension funds overall carried a surplus, a number of funds are still debt - though significantly reduced to 60% of the debt from the previous month.
Large company schemes have especially been highlighted as performing well.
The pension scheme of oil company Shell has been especially highlighted as generous, and through September the company deemed its pension fund surplus to be so healthy it has temporarily suspended pension contributions.
The news overall will be good for those taking out their retirement funds in the near future, as previous years have been a blight for pension fund managers facing serious deficits and under performance.
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