Private sector final salary pension schemes have reached a record high deficit, according to new data.
There was a £95 billion increase from April to a record figure of £312.1 billion at the end of May in the total deficit of 6,432 schemes, Pension Protection Fund (PPF) estimates have revealed.
However, the PPF has cautioned against historical comparisons because changes made to its calculations from April last year had the effect of raising liabilities.
Nevertheless many pensioners who are counting on their pensions as a key part of their retirement planning may be concerned to see the latest figures, as pensions campaigners have also been expressing concerns that the Bank of England's quantitative easing (QE) programme has left retirees worse off.
On retirement, employees use their pension to buy an annuity from an insurer and annuity rates are linked to gilts - the yields on government bonds - which have fallen significantly as a result of QE.
