The funded status of the U.K.’s 200 largest private pension schemes increased by £38 billion ($56.6 billion) in November, the largest one-month jump ever, according to Aon Consulting. That brings the plans’ aggregate funding surplus to £23 billion as of Nov. 30.
The increase was driven primarily by falling expectations for future inflation; projected inflation fell in November to 2.6% from 3.2%.
An Aon Consulting spokesman could not be reached by press time for further information.