Pensions - Articles - PPF release latest PPF 7800 Index for March 2022

 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 £176.4 billion at the end of March 2022, from a surplus of £133.6 billion at the end of February 2022.
 • The funding ratio increased from 108.4 per cent at the end of February 2022 to 111.4 per cent.
 • Total assets were £1,721.5 billion and total liabilities were £1,545.1 billion.
 • There were 1,908 schemes in deficit and 3,307 schemes in surplus.
 • The aggregate deficit of the schemes in deficit at the end of March 2022 was £62.9 billion, down from £83.1 billion at the end of February 2022.

 Lisa McCrory, PPF’s Chief Finance Officer & Chief Actuary said: “Last month the aggregated funding ratio for the universe of schemes we protect increased to 111.4 per cent, the highest it’s been since June 2007. Scheme funding levels continue to be impacted by the increase in bond yields which have moved to reflect expectations that the Bank of England’s policy rate will be higher in the coming years than it has for the previous decade.”

 View the April update and see the supporting data on the 7800 Index for 31 March 2022 here: The PPF 7800 index | Pension Protection Fund