DB scheme deficit rockets 166%

The situation has rapidly worsened over the past month, with deficits across all schemes down 40% since October, as the economic situation deteriorates. But the PPF says it will not be overwhelmed by the arrears. Among schemes in deficit, total deficits rose from £58.3bn in November 2007 to £155bn last month, a rise of 166%. Across defined benefit schemes as a whole, deficits are slightly lower at £136bn, but this has risen rapidly from just £97.3bn, and is more than five times the total deficit a year ago. For those schemes with an excess, total surpluses have fallen 77% to £19bn over ...