DEFINITION
Funding Level

"Funding level": Pensions. The relationship at a specified date (often the valuation date) between the value of the assets and the value of the liabilities of a defined benefit pension scheme, often expressed as a ratio (the ‘funding ratio’). The funding level is frequently expressed as a percentage. For example; when assets = 100 and liabilities = 90, the funding level is 90/100 = 90%. (Not to be confused with the deficit, which in this example is 100 - 90 = 10.)
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