FTSE 350 pension schemes 'well funded'

The human resources consultancy says the schemes have an aggregate funding level of 98% and a £9bn deficit. The FTSE 100 funding level also stands at 98% and has a £6bn deficit, compared to a £30bn deficit in August. John Hawkins, principal in Mercer's financial strategy group, says: "We are continuing to see efforts by sponsoring employers to reduce the risk of pension deficits while, at the same time, there has been a growth in the options available for transferring risk. "Any company adopting a de-risking strategy by switching from equity holdings into liability matching bonds at the...