By Marcus Leach

The Pension Protection Fund (PPF) has said that the UK's pension schemes have moved further into the red for a second consecutive month.

The aggregate deficit of the 6,533 schemes in the PPF 7800 index is estimated to have increased over the month to £196.4 billion at the end of September 2011, from a deficit of £117.5 billion at the end of August.

The PPF went on to say that there were 5,345 schemes in deficit and 1,188 schemes in surplus, citing the continued fall in share prices as one of the reasons for pension funds taking a hit.

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