Pension fund deficits worsen in November

LONDON (Reuters) - The total deficit of pension schemes facing a funding shortfall worsened to 155 billion pounds at the end of November, the Pension Protection Fund said on Tuesday.

The overall deficit of those pension schemes was at 122 billion pounds at the end of October and 58.3 billion at the end of November last year.

Including pension funds in surplus, the aggregate funding position of close to 7,800 defined benefit schemes also worsened over the month to a deficit of 136 billion pounds.

The PPF was launched in 2005 and offers protection to defined benefit and hybrid schemes.

(Reporting by Joel Dimmock; Editing by David Holmes)