The total pension shortfall of British corporate pension funds dropped by 34 per cent in just one month, mainly owing to changes in the method of assessing pension liabilities.
The aggregate deficit of 7,400 schemes plunged from £98 billion in September to £149 billion in October.
The Pension Protection Fund said that new actuarial assumptions echoed more precise figures provided by schemes as well as reduced liabilities by around 7 per cent in last month.
Had the PPF not changed its financial assumptions last month, aggregate funding deficit would have worsened in October to around £169 billion.
Meanwhile, the High Court ruled on Tuesday that trustees cannot depend on the safety net afforded by the PPF while taking decisions.
Justice Henderson said that Pension trustees had no right to gamble with their funds.
Justice further added, "I have no hesitation in holding that the proposal represents a blatant attempt to undermine or circumvent the policy of the PPF legislation."




























