New co-chairs for Balance for Better Business group rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.
Mercer said strong market performances resulted in an increase in pension scheme assets for defined benefit schemes.
Global equity markets were up around 12pc and Eurozone government bonds rose around 5pc.
This, in turn, was offset by the increase in pension scheme liabilities resulting from falls in corporate bond yields, Mercer said.
Corporate consulting leader with Mercer Peter Gray said that although deficits remain largely unchanged over 2020, this does not tell the full story.
Pension scheme liabilities increased significantly during the first quarter of 2020 due to falling corporate bond yields.
This was before panic in the corporate bond market saw yields spike by around 100 bps during March.