Pension deficits decrease by £33.5bn

The aggregate deficit of UK pension schemes has decreased by £33.5 billion over the month of January, according to research by the Pension Protection Fund.

Its PPF 7800 index, which measures the funding positions of 6,316 UK private sector pension schemes, found that the deficit at the end of January 2013 was £211.2 billion, down from a deficit of £244.7 billion at the end of December 2012.

The position was improved on the previous year, when a deficit of £265.4 billion was recorded at the end of January 2012.

Within the index, total scheme assets were £1,084.3 billion and total liabilities were £1,295.5 billion at the end of January 2013.

Of the 6,316 schemes, 5,031 are in deficit. This is an improvement on the 5,244 schemes that were in deficit at the end of January 2012.