 |
|
 |  |  |  |
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
• The aggregate surplus of the 5,131 schemes in the PPF 7800 Index is estimated to have decreased over the month to £359.3 billion at the end of March 2023, from a surplus of £381.4 billion at the end of February 2023.
• The funding ratio decreased from 137.0 per cent at the end of February 2023 to 133.2 per cent. • Total assets were £1,439.8 billion and total liabilities were £1,080.5 billion. • There were 776 schemes in deficit and 4,355 schemes in surplus. • The deficit of the schemes in deficit at the end of March 2023 was £5.7 billion, up from £4.2 billion at the end of February 2023. Lisa McCrory, PPF Chief Finance Officer and Chief Actuary said: “The collapse of SVB Bank and the forced merger of CSFB and UBS created a flight-to-quality demand for government bonds and increased markets’ expectations regarding the likelihood of a recession later this year or in 2024 - that pushed government bond yields lower during March, increasing the discounted value of scheme liabilities. Asset values will have risen less quickly as market interest rates fell, meaning that funding ratios decreased overall.”
View the April update and see the supporting data on the 7800 Index for 31 March 2023 here: The PPF 7800 index | Pension Protection Fund |
|
|
|
| BPA Implementation Manager | ||
| North / hybrid working 50/50 - Negotiable | ||
| Head of Reserving | ||
| City of London - £150,000 Per Annum | ||
| PRT or BPA Specialist | ||
| Nationwide offices / hybrid working - Negotiable | ||
| Retirement Consultant | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
| GI Associate Actuarial Director | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| GI Actuarial Senior Manager | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| Actuarial Manager - GI/Risk | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| Insurance Risk Manager | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| Financial Risk Leader - ALM Oversight | ||
| Flex / hybrid - Negotiable | ||
| Financial Risk Leader | ||
| Flex / hybrid - Negotiable | ||
| Take the lead on actuarial financial ... | ||
| Flex / hybrid - Negotiable | ||
| With-Profits and Investment Risk Expert | ||
| Flex / hybrid - Negotiable | ||
| Reinsurance Actuary | ||
| London/Hybrid - Negotiable | ||
| CONTRACT (12 months): Underwriter | ||
| Fully remote - Negotiable | ||
| CONTRACT (12 months): Senior Underwriter | ||
| Fully remote - Negotiable | ||
| MI Manager | ||
| UK South West / hybrid 2 days in the office - Negotiable | ||
| Senior MI Analyst | ||
| UK South West / hybrid 2 days in the office - Negotiable | ||
| LONDON MARKET CONTRACT: Capital Model... | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| Senior M&A Actuary | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Market-leading Pricing | ||
| South East or Scotland / hybrid 2 dpw in the office - Negotiable | ||
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.
Copyright © 2025 Actuarial Post. Created by Zero-One Design Ltd
