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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
Shalin Bhagwan, PPF Chief Actuary said: “The estimated aggregate funding position of the eligible DB universe continued to improve in October, reaching a surplus of £271.3bn at the month end, as UK and overseas equities performed well. The improvement in the aggregate position of DB schemes came despite a 3.7 per cent growth in liability values, fuelled largely by a decrease in bond yields after the US Federal Reserve restarted policy rate cuts and the gilt market gained confidence that the Budget would see a fiscal tightening. These changes saw the funding ratio increase by 0.7 percentage points, hitting a 22-month high of 130.5 per cent”. View the November update and see the supporting data on the 7800 Index for 31 October 2025 here: The PPF 7800 index | Pension Protection Fund. |
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