Broadstone comments on total UK defined benefit pension scheme deficit

JBS 2

Talk to John:

john.broomesaunders@broadstone.co.uk

020 7893 3441

Research by Broadstone Pensions & Investments reveals that the aggregate UK private sector defined benefit pension scheme deficit, when measured in line with the methodology prescribed for insurance companies, has reached £1tn.

John Broome Saunders, Actuarial Director at BROADSTONE, said “Much of the recent increase in deficit is due to recent developments in world financial markets – and in particular low bond yields, which have set liabilities rocketing. If UK plc wanted to offload its pension liabilities to insurance companies, it would need to pay in a staggering £1 trillion – that’s about two-thirds of the UK’s total annual economic output.”

John Broome Saunders

Actuarial Director