Pensions deficits 'at new high'

Its annual survey, of 1,018 schemes run by 280 private sector firms, found that only 13% were still open to new joiners, down from 19% in 2011. Meanwhile 31% were now closed to existing staff as well, up from 23% the previous year. The NAPF said new staff in the private sector now had “next to no chance” of joining a final-salary scheme.

The deficit of the UK's final-salary pension schemes hit its second highest level on record in July, according to the Pension Protection Fund.

The deficit of private sector, final-salary pension schemes rose in March, figures show, during a key review period for company pensions.

The collective deficit of the UK's private sector final-salary pension schemes worsened in May, says the Pension Protection Fund.

The deficit in final salary pension schemes in the private sector rose in January, the Pension Protection Fund says.

The finances of the UK's 7,400 private final salary pension schemes improved in December, the Pension Protection Fund says.

The financial position of private sector, final salary pension schemes improved in November, according to the Pension Protection Fund.