'Gaping chasm' in pension scheme funding

The lifeboat fund said the shortfall soared from £136.0bn at the end of November to £194.5bn at the end of December. And it said overall scheme funding had deteriorated significantly since December 2007 - when its PPF7800 index recorded a surplus of £11.7bn. The PPF also found the total deficit of schemes in deficit had worsened from £155bn at the end of November 2008 to £209.5bn at the end of December 2008 - a decline of £54.6bn. This is in stark contrast to December 2007, when the total deficit of all schemes in deficit stood at £66.7bn. The PPF said the total surplus of schemes i...