UK pension funds' surplus grows

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The finances of the UK's pension schemes improved in January, according to figures from the Pension Protection Fund (PPF).

The UK's 6,560 final-salary schemes in the private sector saw their collective surplus grow from £21.7bn in December to £46.1bn in January.

There were 3,696 schemes in deficit and 2,864 in surplus, the PPF said.

The figures are relatively volatile, with the schemes recording a deficit just two months earlier.

In January 2009, there was a collective deficit of £12.7bn.

The PPF operates the safety net for members of pension schemes if these schemes collapse.