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.
Highlights
• The aggregate deficit of the 5,422 schemes in the PPF 7800 Index is estimated to have increased over the month to £199.5 billion at the end of July 2020, from a deficit of £174.8 billion at the end of June 2020.
• The funding ratio decreased from 91.0 per cent at the end of June 2020 to 89.9 per cent.
• Total assets were £1,775.0 billion and total liabilities were £1,974.6 billion.
• There were 3,685 schemes in deficit and 1,737 schemes in surplus.
• The deficit of the schemes in deficit at the end of July 2020 was £306.4 billion, up from £288.0 billion at the end of June 2020.
Lisa McCrory, PPF Chief Finance Officer & Chief Actuary, said: “The funding ratio as measured by the PPF 7800 Index declined over July by 1.1 per cent, mostly as a result of a fall in gilt yields over the month. Of the schemes we protect, a majority saw a weakening in their PPF funding position as a result of market movements which remain volatile, with a small number seeing a fractional improvement.”
For a more in-depth look at the monthly changes to our data
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