The latest Pension Protection Fund 7800 Index indicates a jump in the aggregate defined benefit deficit to £103.8bn at the end of December 2017, from a deficit of £87.6bn at the end of November 2017.
The funding ratio for the 5,588 schemes in the index lowered to 93.9 per cent on a section 179 basis from 94.7 per cent over the same period. The s179 basis calculates the cost of securing liabilities at PPF compensation levels.
Total assets stood at £1,589.5bn and total liabilities were £1,693.3bn. There were 3,710 schemes in deficit and 1,878 schemes in surplus.
