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Private pensions move back into surplus
The 7,400 private sector final-salary pension schemes in the UK have moved back into surplus for the first time since June 2008.
According to the Pension Protection Fund (PPF), the schemes had a collective total surplus of £0.3 billion in March 2010, compared to a deficit of £242 billion a year ago.
Despite the collective improvement, only 31.5 percent of individual schemes are in surplus, with 68.5 percent still in deficit.
The level of the assets in the schemes grew 3.9 percent from February to £915.4 billion, while scheme liabilities increased by 2.1 percent over the same time period – now standing at £915 billion.
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