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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 Head of Actuarial Financial Management, said: “Long-dated government bond yields moved higher during July in response to global fiscal policy decisions, leading to a fall in estimated liability values across the PPF-eligible DB universe. Meanwhile, despite the accompanying slight reduction in bond values, estimated asset values rose overall, owing to large gains in equity markets. This followed a series of trade deal announcements contributing to all-time highs in global stock markets. As a result of these movements, the estimated aggregate funding position of the DB universe increased by £10.6 bn, reaching a surplus of £241.1 bn at the month end, while the funding ratio rose by 1.5 percentage points, to 127.7 per cent.”
View the August update and see the supporting data on the 7800 Index for 31 July 2025 here: The PPF 7800 index | Pension Protection Fund. |
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