The funding level of defined benefit (DB) schemes in the Pensions Protection Fund's (PPF) 7800 index has improved on the back of rising gilt yields.
The lifeboat fund said deficits fell from £300.7bn in December 2014 to £265.8bn at the end of 2015.
On a monthly basis deficits dropped 11% to £222.4bn at the end of December 2015 from £249.4bn at the end of November. The aggregate funding ratio improved from 83.4% to 84.9%, and there were 4,679 schemes in deficit and 1,266 schemes in surplus.
Over the month of December the PPF report said: "Both conventional and index-linked 15-year gilt yields rose by 12 basis points and 13 basis points respectively."
However the FTSE All-Share Index fell by 1.4% over the month and economists have worried about flashpoints in the global economy such as China.
Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment says today.
Regulators must act now to impose some "proper regulation" to stop another defined benefit (DB) transfer advice disaster, saysTim Sargisson.
Opportunities for defined benefit (DB) schemes to pursue investment approaches that help repair the UK’s economy cannot stand in the way of improving member outcomes, Aegon says.
More members transferred out of defined benefit (DB) pension schemes in October after September's record lows while values were surprisingly stable, according to XPS Pensions Group's Transfer Watch.
Joanna Smith says trustees will need to accurately identify if covenant issues are short-term affordability concerns, or the start of more material deterioration.