UK - The aggregate funding position of some 7,800 defined benefit (DB) pension schemes is estimated to have worsened over the month of October to a deficit of £97.3bn (US$154bn), the Pension Protection Fund (PPF) says.
If found the total deficit of schemes in deficit for October 2008 was estimated to have increased to £122.1bn from £113.5bn at the end of September 2008.
And the number of schemes in deficit in October stood at 6,468, up from 6,345 schemes in September - representing 84% of total DB schemes.
Meanwhile, scheme liabilities increased by 1.5% over the year to October 2008, to £813.5bn. However, the month of September statistics showed liabilities were down 4.1%.
It also calculated there was a 6.8% decrease in scheme assets due to falling UK and global equities, and noted higher gilt yields in general led to a fall in liabilities of approximately 4.7%.
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