The aggregate deficit of U.K. occupational pension funds covered by the Pension Protection Fund’s 7800 index increased 10.3% to £280.4 billion ($431.5 billion) over the month ended Aug. 31.
Total assets decreased 1.9% to £1.24 trillion, while liabilities increased 0.2% to £1.52 trillion. The FTSE All-Share index dropped 6% over the month of August. Conventional 15-year gilt yields fell 0.01%, while index-linked gilts rose 0.02%.
The funding ratio decreased to 81.6% from 83.2% as of July 31.
The proportion of pension funds with a deficit was 82.5% as of Aug. 31, compared with 80.7% as of July 31. The remaining 17.5% had a surplus vs. 19.3% as of July 31.
