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Aon: U.K. Pensions Cut Deficit To £52B

The pension deficit of the 200 largest private schemes in the U.K. has dropped 40% to £52 billion, according to actuary, Aon Hewitt.

The pension deficit of the 200 largest private schemes in the U.K. has dropped 40% to £52 billion, according to actuary, Aon Hewitt, The Telegraph reports. The decline is mostly due to the rally in equity markets.

Over the past 12 months, the deficit in pension schemes has fallen from £87 billion to £52 billion. BT, British Airways, Royal Mail, Lloyds Banking Group and Royal Bank of Scotland have some of the largest deficits in the U.K., adds The Guardian.

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