Daily Management Review

UK Recovers A Part Of Its Pension ‘Fund Deficit’


09/06/2016


Within a month’s period, the pension fund gains “£100bn”.



Digitallook reports that overall the deficit of “pension funds” in the United Kingdom has grown by “£100bn” within a month’s time, whereby totalling to “£710bn”. Moreover, the PricewaterhouseCooper’s research showed that the liability of the UK’s “pension scheme” totals up to “£2,160bn”, while the entire assets in possession amounts to only “£1,450bn”.
 
The decision of Britain to quit the EU has affected the “gilt yields” to lower, while the companies needed to cover up the differences in order to “meet future pension payouts”. Moreover, the Digitallook also informs that:
“Yorkshire-based plastic and LED firm Carclo has had to retract a previously announced dividend payout to its shareholders in October, following the drop in bond yield levels. A statement from the company said that the increase of its pension deficit would ‘extinguish the company's available distributable reserves’”.
 
The ten year gilt’s yield fell “from 1.3%” to “0.61%” before the decisive voting session. While, the pensions’ Global Head of PwC, Raj Mody, added:
“The challenging environment for pension funds is likely to endure for several years, companies and pension fund trustees should ask themselves if gilt yield measurements are still relevant for them when deciding how to measure and finance the deficit”.
 
 
 
 
 
 
 
References:
http://www.digitallook.com/







Science & Technology

With China Set To Dominate, 1 Billion Could Be Using 5G By 2023

Deutsche Telekom unveils next gen 5G mobile antennas in Europe

Diamonds are now the new gold

Expert Body Says Driving In A Driverless Car In An Inebriated Condition Or On Drugs Should Be Legalized

SEC’s EDGAR database vulnerable to cyber threats

Research Says The Risk Of Severe Turbulence On Planes Will Increase Due To Climate Change

Barclays and CLS Group aim to replace SWIFT with blockchain

Designing Of Cars Being Done With Hologram Goggles At Ford

The Already Surging Cyber Attacks Are Set To Rise Even Further, Says A Study

Chinese to equip smartphones with OLED displays

World Politics

World & Politics

Scholar Says Political Appointees Not As Important As Financial Ones In China For The Economy

An Expected Change In Brussels Could Be Crucial For The Euro Zone

Destroying People Who Wouldn't Help One Of His Bankrupt Businesses Was All Trump Talked About When He Met Him In 1990s: Branson

Russia Is Worried About America’s Unpredictability

No oil contracts with Iraqi Kurdistan: Iraq’s oil ministry

Donald Trump lost $ 600 million during his presidency

Britain puts its weight behind Europe in the battle between Boeing and Bombardier

EU hopes to keep the Iran nuclear deal afloat