Pensions - Articles - The PPF publish latest PPF 7800 Index figures for July 2022


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 5,215 schemes in the PPF 7800 Index is estimated to have decreased over the month to £254.3 billion at the end of July 2022, from a surplus of £267.9 billion at the end of June 2022.
 • The funding ratio decreased from 120.1 per cent at the end of June 2022 to 118.2 per cent.
 • Total assets were £1,653.7 billion and total liabilities were £1,399.4 billion.
 • There were 1,490 schemes in deficit and 3,725 schemes in surplus.
 • The aggregate deficit of the schemes in deficit at the end of July 2022 was £29.8 billion, up from £25.3 billion at the end of June 2022.

 Lisa McCrory, Chief Finance Officer and Chief Actuary said: “For the first time in six months, we’ve seen the funding position for the 5,215 schemes under our protection decline. This decline is the result of a fall in bond yields as markets anticipate the recent central bank tightening cycles may be drawing to a close. While the aggregate surplus for the PPF 7800 Index remains positive, the economic outlook remains uncertain with the risk of an uptick in the rate of corporate insolvencies. We encourage trustees, even if their funding position is strong, to have contingency planning for employer insolvency in place.”

 View the August update and see the supporting data on the 7800 Index for 31 July 2022 here 

Back to Index


Similar News to this Story

DC Pension Tracker Q3 2025
The Aon UK DC Pension Tracker fell over the quarter, with the younger savers seeing decreases in their expected outcomes, while the older members’ exp
Employers must take lead in retirement adequacy crisis
Employers will end up taking most of the responsibility for helping to solve the retirement adequacy problem if we are to see real and impactful chang
Two thirds of Administrators involved in pension strategy
With forthcoming legislation, from Inheritance Tax on unused pension pots to the 2025 Pension Schemes Bill set to have considerable implications for p

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.