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Research reveals 10bn pension deficit increase in August

UK pension deficits showed a monthly increase of 10bn in August according to analysis by Aon Consulting.

The research showed the increase was mainly due to a small decrease in bond yields over the month, with corporate bond yields falling from 5.1 per cent to 5 per cent and gilt yields falling from 4.4 per cent to 4.3 per cent.

Over the same period the equity market remained largely flat.

The survey monitors 200 of the UK’s largest defined benefit schemes. At the end of August 2006 the total estimated deficit for the 200 schemes stood at 51bn compared to a 41bn deficit at the end of July.

Aon Consulting Principal Andrew Claringbold said: “This shows just how sensitive the FRS17 figures reported on company balance sheets are to bond markets.”

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