DB funds fall to first deficit in a year

The PPF’s 7800 index, an update of more than 7,800 DB schemes, shows falling gilt yields and equity markets in November dragged funds from a £53bn surplus in October. Volatility led to increasing scheme liabilities and reduced assets. In the last deficit schemes dropped to a £30bn shortfall. The PPF also estimates the total shortfall of schemes in deficit in November worsened to £73bn from £48bn at the end of October. However, the shortfall has dropped from £83bn a year ago. The index also shows the total surplus of funds in the black fell to £68bn in November from £101bn at the end of...