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This update provides the latest estimated funding position, based on adjusting the scheme valuation data supplied to The Pensions Regulator as part of the schemes’ annual scheme returns, 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
 Aaron Pang, PPF Acting Chief Actuary, said: “Government bond yields fell slightly during October, increasing both asset and liability values. While scheme assets rose overall, gains were partially offset by weaker overseas equity markets. At the end of October 2026, the 4,838 schemes in the PPF 7800 Index recorded an aggregate surplus of £275.4 billion, down from £280.7 billion at the end of September. Total assets increased by 0.9 per cent to £1,091.7 billion, while liabilities rose by 1.9 per cent to £816.3 billion. As a result, the funding ratio fell from 135.0 per cent to 133.7 per cent.”
A note on changes to the PPF 7800 Index
In our December 2025 update, we highlighted that the government had announced that it would legislate to allow us to pay prospective indexation starting from 2027 for service accrued pre-1997 for members of schemes who provided this as a right. As well as schemes that have already transferred to the PPF, this will also impact the s179 liabilities of schemes in the PPF universe. In April the Pension Schemes Act received Royal Assent. As we’ve signposted, we’ll reflect the impact from these changes in the PPF 7800 Index in due course.
View the November update and see the supporting data on the 7800 Index for 31 October 2026 here: The PPF 7800 index | Pension Protection Fund
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| Capital Actuary | ||
| London - £100,000 Per Annum | ||
| Reserving Actuary | ||
| London - £120,000 Per Annum | ||
| Capital Actuary | ||
| London - £110,000 Per Annum | ||
| Qualified Pricing Actuary, Casualty | ||
| Bermuda - Negotiable | ||
| Head of Short and Long Tail Pricing | ||
| London - £180,000 Per Annum | ||
| Reserving Actuary | ||
| London - £120,000 Per Annum | ||
| Qualified Pricing Actuary, Casualty | ||
| Bermuda - Negotiable | ||
| Reserving Actuary | ||
| London - £120,000 Per Annum | ||
| Qualified Pricing Actuary, Property | ||
| London - £140,000 Per Annum | ||
| Specialty Pricing Actuary (Part time ... | ||
| London - £125,000 Per Annum | ||
| Pricing Actuary | ||
| London - £180,000 Per Annum | ||
| Actuary - Financial Planning & Analysis | ||
| London/Hybrid - Negotiable | ||
| Capital Actuary | ||
| London/Hybrid - £100,000 Per Annum | ||
| Reserving Actuary | ||
| London - £120,000 Per Annum | ||
| Pricing Actuary, Marine Cargo/Property | ||
| London - £130,000 to £150,000 Per Annum | ||
| Pricing Actuary – Cyber | ||
| London - £120,000 Per Annum | ||
| Reinsurance Pricing Actuary, Analytics | ||
| London - £130,000 to £180,000 Per Annum | ||
| Reinsurance Pricing Actuary | ||
| London - £140,000 Per Annum | ||
| Head of Capital | ||
| London - £170,000 Per Annum | ||
| ART Pricing | ||
| London - £100,000 Per Annum | ||
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