FTSE 350 pension deficits widen threefold in 2016 - Mercer

The combined defined benefit, or final salary, pension deficits of FTSE 350 companies increased threefold last year, hit by a sharp drop in corporate bond yields, consultants Mercer said on Wednesday. The accounting deficit of the schemes rose to 137 billion pounds at the end of December, 2016 from 39 billion pounds a year earlier, Mercer said in a statement. Corporate bond yields fell by more than 100 basis points in 2016, increasing the liabilities on company balance sheets, which can affect f