ACT abolition cost 200 DB schemes £20bn

Research into the total deficit of the top 200 schemes on a Financial Reporting Standard 17 (FRS17) basis, reveals the shortfall is at its lowest monthly level since records began at just £14bn, with 30% of schemes now in surplus. However, Aon says if the ability to reclaim Advanced Corporation Tax (ACT) on dividends had not been removed the 200 largest pension schemes would be in surplus by £6bn, and 40% of schemes would be over-funded. I n the latest research from its monthly tracker of scheme deficits, Aon says although the FRS17 deficit is now only £14bn, volatility is still high as ...