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The health of the UK’s defined benefit (DB) pension schemes has continued to improve since the sharp decline seen at the start of the pandemic, with analysis from Legal & General Investment Management (LGIM) suggesting that it is “far stronger” than pre-Covid-19 levels.

The provider’s Health Tracker, a monitor of the current health of UK DB pension schemes, found that the average DB scheme can expect to pay 98.2 per cent of accrued pension benefits as of 31 March 2021, representing a 6.8 percentage point year-on-year increase

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