Despite "generally good" investment returns during 2012, there was no overall improvement in the position of defined benefit schemes, according to the chief executive of the Pensions Board, Brendan Kennedy.
The majority of defined benefit schemes have considerably less assets than are needed to meet the funding standard, and must prepare and submit a recovery plan to the Board by mid-2013, according to the board’s annual report, released today.
“The Board is well aware...
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