Following the all time low on pension deficits in March 2003 of £100 billion, Aon Consulting now report that almost half of the 200 biggest deficit pensions are now in surplus.
This compares with almost a third at the end of April, this year.
Our view
We expect this trend to continue given that those schemes who could afford to continue have and those that could not are being wound up. Combine this with investment market recovery over the last few years and it can be seen why pension fund deficits have reduced.