Pensions - Articles - The PPF publish January 2020 PPF7800 Index

The latest PPF 7800 Index below which shows the most recent estimated funding position, on a s179 basis, for the defined benefit schemes in the PPF eligible universe. This month’s update takes account of the underlying data from the newly published Purple Book 2019 for the calculation of funding ratios, reflecting the latest data available.

 This update will impact the starting position of the Index, and our calculations show the combined effect of these changes has caused the funding ratio of the defined benefit scheme universe to decrease by 3.5 percentage points to 95.9 per cent at the end of January 2020 compared with 99.4 per cent (restated from 98 per cent) reported at the end of December 2019.
 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 179 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.

 • The aggregate deficit of the 5,422 schemes in the PPF 7800 Index is estimated to have increased over the month to £74.7 billion at the end of January 2020, from a deficit of £10.9 billion at the end of December 2019.
 • The funding ratio decreased from 99.4 per cent at the end of December 2019 to 95.9 per cent.
 • Total assets were £1,733.9 billion and total liabilities were £1,808.6 billion.
 • There were 3,257 schemes in deficit and 2,165 schemes in surplus.
 • The deficit of the schemes in deficit at the end of January 2020 was £209.9 billion, up from £165.6 billion at the end of December 2019.
 For a more in-depth look at the monthly changes to our data
 To view the full update

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