The aggregate deficit of U.K. occupational pension funds in the Pension Protection Fund’s 7800 index increased 39% to £170.6 billion ($274.6 billion) in August.
Total liabilities were £1.378 trillion as of Aug. 31, an increase of 6.3% compared with July 31, while total assets increased 2.9% to £1.207 trillion.
The funding ratio, however, decreased almost three percentage points to 87.6% in August.
Almost three-quarters (74.8%) of the 6,150 pension funds covered by the PPF 7800 index were in deficit as of Aug. 31, compared with 71.3% at the end of July. The number of funds with a surplus decreased to 25.2%, from 28.7% at the end of July.