Pension schemes have increased their life expectancy assumptions for members by an average of half a year over 2007, equating to an average increase of two per cent, or £8bn, on the liabilities for the firms in the FTSE 350.
The data is reported in Mercer’s latest pension funding research, which looked at funding positions for FTSE 350 companies. It also showed that scheme funding levels on an IAS19 basis have improved over the first quarter of 2008, with an aggregate FTSE 350 surplus of £14bn, compared to a deficit of £14bn at 31 December 2007.

pensions age magazine