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Last Updated: Tuesday, 9 October 2007, 12:15 GMT 13:15 UK
Pension scheme surpluses rebound
Members of the Chilton textile firm pension scheme in Scotland
The PPF rescued these pension scheme members last December
The finances of the country's final salary pension schemes have rebounded in September after being dented by the banking crisis in August.

The Pension Protection Fund (PPF) says the UK's 7,783 schemes, mainly in the private sector, had a collective surplus of 44bn.

That was up from the 27bn surplus in August - and much better than the 31bn deficit of September last year.

The improvement reflects higher contributions and investment returns.

The PPF was set up in 2005 to provide a safety net for pension scheme members if their employer went bust, leaving their fund with a deficit.

As part of its role in monitoring the health of schemes, which supply it with annual returns, the PPF now publishes a monthly snapshot of their financial health.

The PPF calculates how much money the schemes would need to pay an insurance company to take on full responsibility for paying out the pensions at the safety net level set by the Fund.

In September, the schemes in surplus were in the black to the tune of 94bn - up from 50bn a year ago.

Those still in the red had a collective deficit of 50bn, down from 82bn in the same month last year.

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