Great Britain: 219 billions pounds of deficit in private pension funds

ed benefit pension schemes in the private sector doubled in less than a year, reaching 219 billion pounds (232 billion euro) – the largest deficit since 2004. However, no need to panic, said the Pension Protection Fund, which is nonetheless going to ask businesses for a more important contribution when the recession ends. (Ref. 090312)

The Pension Protection Fund, created five years ago to guarantee pension funds when firms go bust, found out about this record number while analyzing the...