Pensions - Articles - DB pension deficit down by twenty billion pounds in June


New figures released today from PwC’s Skyval Index show the deficit of defined benefit (DB) pension funds increased stood at £220bn at the end of June 2019 - down £20bn from the previous month.

 PwC’s Skyval Index, based on the Skyval platform used by pension funds, provides an aggregate health check of the UK’s c.5,450 corporate DB pension funds. The current Skyval Index figures, based on the 'gilts plus' method widely used by scheme actuaries, are:

 

 The fall follows a £60bn increase in the deficit during May which came after an £80bn drop in the previous month.

 Steven Dicker, PwC’s chief actuary, said: “The small improvement in the deficit has been mostly driven by positive performance in equity markets over the month. Overall, however, the yo-yo trend of recent months is largely a reflection of funds treading water as geopolitical and economic issues continue to rumble on.” 

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