The PPF 7800 Index has been updated to the end of May 2011.
This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit 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. Movements in the PPF 7800 index illustrate how the PPF's exposureto the scheme deficits in its universe of eligible schemes is changing in response to financial market movements.
Highlights include:
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The aggregate balance of the 6,533 schemes in the PPF 7800 index is estimated to have decreased over the month to a deficit of £13.5 billion at the end of May 2011, from a surplus of £2.3 billion at the end of April.
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The funding ratio fell from 100.2 per cent to 98.7 per cent.
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Total assets were £1004.5 billion and total liabilities were £1017.9 billion.
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There were 4,311 schemes in deficit and 2,222 schemes in surplus.
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