The total deficit of defined benefit funds covered by the Pension Protection Fund’s 7800 index increased 11.2% to £311.7 billion ($472.7 billion) over the month ended Sept. 30.
Year-to-date, the total deficit increased 116%.
Total liabilities were £1.547 trillion, up 1.8% compared with Aug. 31, and up 16.3% vs. Sept. 30, 2014. Total assets decreased 0.3% in September to £1.235 trillion, but increased over the 12 months by 4.2%.
The funded ratio also decreased over the month, to 79.9%, compared with 81.6% at the end of August. The funding ratio was 89.2% as of Sept. 30, 2014.
Of the 6,057 pension funds covered by the index, 84.2% were in deficit, up from 82.5% as of Aug. 31, and 73.8% as of Sept. 30, 2014.
