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The PPF 7800 index

Every month we publish the PPF 7800 index giving the latest estimated funding position for all eligible defined benefit schemes - on a section 179 basis. The index is an official statistic produced in accordance with the UK Statistics Authority Code.

October 2025 update

Highlights

Item

Last month

 This month

 Change

 Aggregate funding position

£238.9bn surplus

£255.1bn surplus

+£16.2bn

 Funding ratio 

128.1%

 129.8%

+1.7pp

 Total scheme assets

£1,090.5bn

 £1,112.2bn

+2.0%

 Total scheme liabilities

£851.6bn

 £857.1bn

+0.6%

 Deficit of schemes in deficit

£30.3bn

£26.9bn

-£3.4bn

 Number of schemes in universe

4,969

4,969

 No change


For a more in-depth look at the monthly changes to our data please see the link to the index history below.

 

View the full update

View

View the index history

View

Previous updates

2025

2024

2023

Older updates are available on request.

Shalin Bhagwan, PPF Chief Actuary, said:  

"In September, easing trade tensions led to global equity gains, supporting a 2 per cent increase in estimated total assets held across the PPF-eligible DB universe. While a slight drop in gilt yields contributed to a 0.6 per cent increase in the estimated total liabilities within the DB universe. The movements saw the aggregate funding ratio reach heights not seen since December 2023, with an increase of 1.7 percentage points pushing it to strong 129.8 per cent at the month end, while the aggregate funding position climbed to £255.1bn following a £16.2bn improvement across the month."