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The aggregate funding position of final salary schemes worsened last month with overall deficit of the 7,400 defined benefit schemes widening to 51.9m from an estimated 31.9m deficit at the end of December.
The Pension Protection Fund says that 75.0% of all schemes are now in deficit.
During the month there was a 1.8% decrease in assets due to falling UK and global equities. Meanwhile, the change in gilt yields led to a small increase in liabilities (less than 0.1%).
Over the past year, pension schemes have benefited from rising equity markets which has outweighed the fall in bond yields.
Lower bond yields have resulted in a 2.3% increase in aggregate liabilities while stronger equity prices increased assets by 13.5% over the year.
In addition, the change in actuarial assumptions in October 2009 reduced estimated liabilities by around 70 billion.
Shares in British banks rose on the FTSE 100 in morning trading following positive news on the Greek debt crisis.
Unite, the union, has gone to international unions, in its attempts to bring the...
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