On the go: The 5,450 defined benefit schemes in the UK are inching back towards surplus on the Pension Protection Fund's measure, with an aggregate deficit of just £8.6bn.
The total shortfall shrunk by £14.5bn over the month, leading to a funding level of 99.5 per cent. Total assets in the schemes were £1,602.9bn at the end of February, while liabilities were £1,611.5bn.
Funding levels rose both at schemes in surplus, which had an aggregate £145.6bn in reserves, and schemes in deficit, which had a shortfall of £154.3bn
The PPF's section 179 funding position shows the level of assets needed to buy out the benefits of all UK schemes with an insurer when cut and capped under the lifeboat's payout structure.
The February results are a significant improvement on the position a year ago, when the UK had a deficit of £72.1bn.
The UK tipped into surplus for the first time since 2011 in November, but quickly slipped back into deficit.
