UK - The 6,653 schemes monitored by the Pension Protection Fund reported a surplus of £13.5bn ($21.8bn) at the end of last month, figures show.
The PPF 7800 index reported the improvement from a deficit of £20.4bn at the end of September. The position was also an improvement on the previous year, when it stood at a deficit of £44bn.
It said the funding ratio improved from 97.9% to 101.4%. In October, last year it was 95.2%.
Total assets were £967.1bn and total liabilities were £953.6bn. And there were 4,128 schemes in deficit and 2,525 schemes in surplus.
The lifeboat fund said equity markets and gilt yields were the main drivers of funding level improvements.
It said: "Scheme liabilities are sensitive to the yields available on a range of conventional and index linked gilts. Liabilities are also time sensitive in that, even if gilt yields were unchanged, scheme liabilities would increase as the point of payment approaches.
"The value of scheme assets is affected by the change in prices of all the major asset classes, not just equity markets. Due to their weight in asset allocation and volatility equities are usually the biggest driver behind changes in scheme assets."
Analysis from the PPF said the FTSE All-Share Index rose by 2.4% over October and 15-year gilt yields were up 20 basis points. During the month of October there was a 0.6% increase in assets mainly due to rising UK and global equities. Liabilities also fell by 2.9% due primarily to the improvement in gilt yields.
Over the year to October, the FTSE All-Share Index rose by 13.6% and 15-year gilt yields were down by 28 basis points.
The PPF 7800 index is based on indexation and valuation using the RPI.
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