Fund sinks deeper in the red AS a consequence of the turbulence in the world’s financial markets, the Unilever UK Pension Fund now has a deficit of a whopping £1,800 million, based on a valuation at March 31, 2009. That is more than twice what it was the previous year when the total amounted to £830 million and five times as much as it was in 2007 (£360 million). Back in March 2007 there were nearly sufficient assets (93%) to pay all its liabilities. The following year this funding level had dropped to 86%. In March 2009 it had plunged to 69% or a little more than sufficient to meet two thirds of its commitments. These are the disturbing facts contained in the latest report and accounts for the fund. Of course, the stock markets have played a significant role but there is no mention of the fact that this enormous deficit was not helped by the contributions’ holidays enjoyed by both the company and employees in the 1990’s and the early 2000 years. We believe that the company is still £800 million in pocket over that move.