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FTSE 350 pension deficit falls

The FTSE 350's collective final salary pensions deficit totalled £38 billion at the end of July, down from £44 billion in the previous month, according to new figures.

The Aon Hewitt 350 Index showed that although the final deficit level was relatively steady in comparison to June, there were swings of £35 billion during the month.

A significant improvement of £17 billion reduced the deficit to £27 billion at the beginning of the month, as investor confidence increased.