DB scheme deficit worsens for third month

The deficit of almost 7,800 DB funds fell to £61.2bn from £19.6bn in December 2007. Scheme funding has become worse than January 2007, when it reached a surplus of £31.9bn. The PPF attributes the fall to weaker equity markets while lower gilt yields raised liabilities. It estimates the total deficit of schemes in deficit last month worsened to £106bn from £82.4bn at the end of December 2007. Meanwhile, the total surplus of schemes in surplus fell to £44.8bn from £62.9bn at the end of December 2007. The aggregate surplus of all schemes in surplus stood at £83.1bn last month. To com...