Value of global pension funds hits record high at £16tn, study shows

The steep rise in assets should comfort pension savers that a guaranteed retirement income will be honoured, but asset/liability ratio is still well down from its 1998 level. Photograph Sean Smith for the Guardian

Pension funds battered by the financial crisis performed strongly last year after stock markets recovered in the wake of the Greek debt crisis.

Pension fund deficits, which have plagued final salary occupational schemes around the world, narrowed as assets in the 13 largest pension markets hit a record high of $26.5 trillion (

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