Private pensions back in the black

first_img PRIVATE pension schemes in the UK have motored back into surplus, driven upwards by healthy stock markets. say the new monthly figures out from the Pension Protection Fund (PPF), the body that insures pension schemes. The aggregate balance of the 6,653 schemes in the pension protection fund’s PPF 7800 index is estimated to have improved over the month to a surplus of £13.5bn at the end of October 2010, a sharp jump upwards from a deficit of £20.4bn at the end of September. Total assets of private pension schemes were £967.1bn as of 31 October, slightly outstripping total liabilities of £953.6bn. The position has improved dramatically from the figure that was announced 12 months earlier on 31 October 2009 when the deficit was £44bn. Total scheme assets increased 0.6 per cent over the month and 11.8 per cent over the year. Total liabilities were 2.9 per cent down over the month and 4.9 per cent over the year. The balances of pension schemes tend to be volatile and are strongly influenced by gilt yields and major asset classes, especially equity markets. Much of the movement in the figures can be attributed to the performance of the FTSE All-Share, which rose by 13.6 per cent In the 12 months to October 2010 while 15-year gilt yields were down by 28 basis points.At the end of October 2010 62 per cent of the 6,653 defined benefit schemes were in deficit, a figure that is well down from 4,632 at the end of October 2009. Around 500 more schemes are in surplus than at the end of October 2009. Tuesday 9 November 2010 7:49 pm Tags: NULL Private pensions back in the black whatsapp Sharecenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory Show Comments ▼ whatsapp KCS-content last_img