Pensions - Articles - Pension Protection Fund publish the December PPF 7800 index


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.

 This month there is an update in the way the PPF 7800 Index is calculated: we are moving to the Purple Book 2017 dataset for the calculation of the funding levels, re-stating the funding position from March 2017 to October 2017 to reflect the new data. The impact as at 31 October 2017 is an improvement in the funding position of 3.5 percentage points (see note 6 on page 7 of the full update).
 
 All the charts and tables presented in this publication have been revised to reflect this change.
 
 Highlights
     
  1.   The aggregate deficit of the 5,588 schemes in the PPF 7800 Index is estimated to have decreased over the month to £87.6 billion at the end of November 2017, from a deficit of £87.7 billion at the end of October 2017.
    2.  
  2.   The funding level remained the same as at the end of October 2017 at 94.7 per cent.
    3.  
  3.   Total assets were £1,563.5 billion and total liabilities were £1,651.1 billion.
    4.  
  4.   There were 3,663 schemes in deficit and 1,925 schemes in surplus. 
 To view the full update click here

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