Pension funds show slight improvement

The collective value of UK private pension funds rose by a small margin in February, new figures have revealed.

According to the Pension Protection Fund (PPF), the body that monitors funds that may be in difficulty, the UK’s 6,560 remaining final salary schemes registered a surplus of £48.4 billion last month.

The figure for January was £46.1 billion.

The PPF said that, of the schemes, 3,675 funds had a deficit, while 2, 885 had a surplus.

The reason for the moderate improvement in performances was an upturn in UK and global equities.