The total accumulated deficit of pension schemes in the UK is still above £90 billion despite recent decreases, according to the Pension Protection Fund (PPF).
Figures from the organisation’s latest monthly bulletin have revelled that despite a fall of £42.2 billion between November and December 2009, the deficit still stood at £90.7 billion.
By way of contrast, the total accumulated amount of pension schemes in surplus was just £58.1 billion at the end of last year.
Concerns about the size of deficit faced by some schemes could leave a number of trustees looking at alternative routes to fund their retirement.
Policies such as equity release could boost a homeowner’s income with funds taken from the value of their property assets.
PPF chairman, Lawrence Churchill, said: "The economic downturn has highlighted how vital the PPF protection has been. None of us would want to go back to an era where people lost their pension as well as their jobs."
