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.
Story provided by Business Financial Newswire
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