According to the Pension Protection Fund (PPF) final salary pension scheme deficits within the private sector are improving.
According to the recent research released last month, the shortfall of all pension schemes in the UK was improving due to an increase in equity markets.
Of the combined deficit of nearly 7,400 final salary schemes, the deficit fell from £97.6 billion to £92.5 billion. The total schemes registered as not being in a deficit has risen from £37.5 billion to £40.4 billion, showing that the deficit is beginning to shift.
The issue with pension deficits was registered in 2008 as £124 billion. Of all pension schemes 21% are in surplus, which does mean that 79% are still in a deficit and highlights the need to turn the problem around.