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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 £99.0 billion at the end of June 2021, from a surplus of £94.6 billion at the end of May 2021.
• The funding ratio increased from 105.6 per cent at the end of May 2021 to 105.8 per cent. • Total assets were £1,813.0 billion and total liabilities were £1,714.0 billion. • There were 2,424 schemes in deficit and 2,894 schemes in surplus. • The deficit of the schemes in deficit at the end of June 2021 was £117.7 billion, down slightly from £117.8 billion at the end of May 2021. Lisa McCrory, PPF’s Chief Finance Officer and Chief Actuary, said: “There’s been very little change in the funding position in June, with the funding ratio increasing by 0.2% to 105.8%, due to an increase in the value of global equities. 2,424 of the 5,318 UK defined benefit pension schemes are currently in deficit, though the total shortfall fell slightly from £117.8 billion to £117.7 billion, meaning the total risk we’re currently exposed to is broadly unchanged.” View the full June 2021 update here: The PPF 7800 index | Pension Protection Fund
For a more in-depth look at the monthly changes to our data please go to: PPF-7800-data-June-2021.pdf |
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