Pensions Deficit Declines in March, PFF Says

The collective deficit from the private sector in the United Kingdom on the final salary pension program has carried on declining during the month of March. The deficit was recorded from £222 billion back in February to a new figure of £206 during the month of March. On the other hand, there was almost a £37 billion surplus during the month of March. The figures were released following the announcement from Pensions Minister Steve Webb saying that the government was trying to look into plans for a much secure replacement for the final salary program. According to the PPF, there were 5,189 of those that are under the final salary pension schemes that have deficits and there were 1,243 schemes that were identified to be under the surplus bracket as the month of March ended. On Monday, Mr Webb has announced that the current program has racked up too much cost for a lot of the private firms.