Pension deficit rises to 221 billion pounds in November - data
LONDON (Reuters) - The shortfall in Britain's private sector pension plans rose to an estimated 221 billion pounds at the end of November from 165 billion pounds in October, the Pension Protection Fund (PPF) said on Tuesday.
The total assets under management of 6,057 schemes tracked by the PPF index were 1,233 billion pounds, while liabilities stood at 1,454 billion pounds. The funding ratio stood at 84.8 percent and 4,781 schemes were in deficit, the watchdog said.
The PPF was created in 2005 to take over the assets and liabilities of UK-based defined benefit pension schemes if an employer goes bust.
(Reporting by Nishant Kumar; editing by Carolyn Cohn)
