LONDON (Reuters) - The shortfall in private sector pension plans rose to an estimated 164.9 billion pounds at the end of October from 144.3 billion pounds in September, the Pension Protection Fund (PPF) said on Tuesday.
The total assets under management of 6,057 schemes tracked by the PPF index were 1.2 trillion pounds, while liabilities stood at 1.4 trillion pounds. The funding ratio stood at 87.9 percent and 4,570 schemes were in deficit, the watchdog said.
The PPF was created in 2005 to take over the assets and liabilities of UK-based defined benefit pension schemes if an employer goes bust.
(Reporting by Nishant Kumar. Editing by Clare Hutchison.)