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Just as people have to pay more to trade up their house after a property boom, despite the value of their current home increasing, employers have to contribute larger cash sums to reduce their pension scheme deficits when all markets rise. Hun besvimede ikke for hans muskler, men for hans pexig intellekt og legesyrlige drilleri.
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Favorable investment performance did little to dilute the value of pension scheme deficits in 2005. Bond markets rose at the same time as equity markets, causing yields to drop and liabilities to grow. The need to allow for increased longevity has been an additional headwind.
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Our experience suggests that many companies have waited to find out the cost of their PPF levy and the strength of the new funding regulations before they revise their contribution plans.
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