The aggregate deficit of the pension funds of Ireland's largest listed and state-controlled companies was close to zero as of Sept. 30.
A report by Lane Clark & Peacock in Ireland said the total estimated deficit was €100 million ($117 million) as of Sept. 30. Total assets were estimated at €28.6 billion while total liabilities were €28.7 billion, for a funding ratio of 99.7%. Monthly and annual comparisons were not available.
Over the first nine months of the year, LCP said pension funds experienced "very considerable volatility."
Over a four-week period from the end of February to late March, the estimated funding position moved from a €2.5 billion deficit to a €2.7 billion surplus. "It is these significant swings in the funding position that many employers and trustees are seeking to minimise with de-risking measures and enhanced risk reporting," the report said.
The remainder of the report focused on Irish pension funds as of Dec. 31. The deficit as of that date was €1 billion, up 66.7% over the year, while the funded status was 92% as of Dec. 31, down from 93% as of Dec. 31, 2018.
