The aggregate deficit of U.K. occupational pension funds in the Pension Protection Fund's 7800 index increased 12.6% to £122.7 billion ($205.9 billion) in July.
Total liabilities were £1.296 trillion as of July 31, an increase of 1.6% compared with June 30, while total assets increased slightly, by 0.5%, to £1.173 trillion.
The funding ratio decreased one percentage point to 90.5% in July.
According to the PPF 7800 index's latest update, 71.3% of the 6,150 pension funds covered had a deficit as of July 31, compared with 70% at the end of June. The number of funds with a surplus decreased to 28.7%, from 30% at the end of June.
