This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF). |
A scheme’s s179 liabilities represent, broadly speaking, the premium that would have to be paid to an insurance company to take on the payment of PPF levels of compensation. This compensation may be lower than full scheme benefits. Highlights
• The aggregate surplus of the 5,318 schemes in the PPF 7800 Index is estimated to have increased over the month to £34.2 billion at the end of March 2021, from a surplus of £14.6 billion at the end of February 2021. Lisa McCrory, Chief Finance Officer and Chief Actuary, said: “The funding position of the PPF 7800 Index has improved slightly in March. The aggregate surplus of the 5,318 defined benefit pension schemes increased to £34.2 billion with an improved funding ratio of 102 per cent primarily due to an increase in equities. “Although these recent market movements appear encouraging we remain mindful that this continues to be a volatile position.”
To view the full March 2021 update |
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