Pensions - Articles - PPF publish latest PPF7800 Index figures for September 2021


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 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
 • The aggregate surplus of the 5,318 schemes in the PPF 7800 Index is estimated to have increased over the month to £108.8 billion at the end of September 2021, from a surplus of £83.2 billion at the end of August 2021.
 • The funding ratio increased from 104.7 per cent at the end of August 2021 to 106.4 per cent.
 • Total assets were £1,800.9 billion and total liabilities were £1,692.1 billion.
 • There were 2,383 schemes in deficit and 2,935 schemes in surplus.
 • The aggregate deficit of the schemes in deficit at the end of September 2021 was £109.4 billion, down from £130.2 billion at the end of August 2021.

 For a more in-depth look at the monthly changes to our data please see the link to the supporting data on the PPF 7800 Index home page: https://ppf.co.uk/ppf-7800-index

 Lisa McCrory, PPF’s Chief Finance Officer and Chief Actuary, said: “It has been another positive month for pension scheme funding with the number of schemes in deficit reducing from 2,483 to 2,383 and the aggregate deficit of schemes in deficit reducing by £20.8 billion to £109.4 billion.
 
 “The improving position was mainly as a result of rising gilt yields which caused both assets and liability values to fall. The continued volatility of gilt yields along with rising inflation acts as a reminder to trustees of how quickly scheme funding can change and the need to keep their investment and risk mitigation strategies under review.”

 View the September 2021 update here

 For a more in-depth look at the monthly changes to our data 

 
  

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