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 5,215 schemes in the PPF 7800 Index is estimated to have increased to £146.4 billion at the end of January 2022, from a surplus of £129.3 billion at the end of December 2021.
• The funding ratio increased from 107.7 per cent at the end of December 2021 to 109.1 per cent.
• Total assets were £1,757.0 billion and total liabilities were £1,610.6 billion.
• There were 2,094 schemes in deficit and 3,121 schemes in surplus.
• The aggregate deficit of the schemes in deficit at the end of January 2022 was £80.9 billion, down from £97.0 billion at the end of December 2021.
Lisa McCrory, PPF’s Chief Finance Officer and Chief Actuary, said: “Despite last month’s fall in global equities, the ongoing rise in bond yields saw the aggregate surplus of the 5,215 schemes we protect increase by £17.1 billion to £146.4 billion. This improvement in scheme funding saw fewer schemes in deficit with a reduced aggregate deficit of £80.9 billion, a positive trend, which scheme Trustees will undoubtedly welcome as they consider their longer-term plans.”
View the February update and see the supporting data on the 7800 Index for 31 January here
|
