Liabilities for pension funds outstrip assets
THE ESTIMATED deficit of the 6,057 defined benefit schemes covered by the Pension Protection Fund (PPF) increased by over £20bn in July.
The aggregate deficit of the schemes in the PPF 7800 index rose to £254.2bn, from a deficit of £223.1bn at the end of June.
Total assets were £1,263bn and total liabilities were £1,517.3bn.
Meanwhile, the funding ratio deteriorated from 84.8 per cent to 83.2 per cent.