Pensions - Articles - PPF release latest PPF7800 figures for January 2026

 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.  

 

Shalin Bhagwan, PPF Chief Actuary, said: "The PPF-eligible DB universe's funding position strengthened slightly over the last month, with the funding ratio increasing to 131.0 per cent from 130.2 per cent at the end of last month and the aggregate surplus reaching £265.6 billion, compared with a surplus of £259.7 billion at the end of December 2025. 

 

The increase in schemes’ funding position resulted from a 0.2 per cent increase in total scheme assets, to £1,123.1 billion, and a 0.4 per cent decrease in total scheme liabilities, to £857.5 billion. These movements were driven in large part by a mixed bag of shifts in bond yields over the month - with yields on fixed interest indices moving up but, consistent with increases in inflation expectations, real yields falling, while equity markets saw positive returns."

 

View the February update and see the supporting data on the 7800 Index for 31 January 2026 here: The PPF 7800 index | Pension Protection Fund.