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Pension deficit continues to fall

The Pension Protection Fund (PPF) has announced that the overall deficit of the UK's private sector final salary pension schemes fell last month.

The deficit now stands at £206 billion, down from £222 billion at the end of February. However, this compared with a near-£37 billion surplus at the end of March 2011.

A total of 5,189 final salary pension schemes were said to be in deficit at the end of March, with 1,243 schemes in surplus, according to the PPF.