Pensions - Articles - Pension deficit shows further decrease at end of September


New figures released today from PwC’s Skyval Index show the deficit of defined benefit (DB) pension funds stood at £150bn at the end of September, 2018 compared to a deficit of £170bn at the previous month end.

 PwC’s Skyval Index, based on the Skyval platform used by pension funds, provides an aggregate health check of the UK’s c.5,600 corporate DB pension funds. The current Skyval Index figures, based on the 'gilts plus' method widely used by scheme actuaries, are:

 Assets               Liability                target Deficit
 £1,620bn            £1,770bn               £150bn
 
 Steven Dicker, PwC’s chief actuary, said:“September has seen another decrease in the deficit for UK pension schemes, the change this month being predominantly due to increases in gilt yields impacting liabilities more than assets.”
  

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