19.04.2024
Today marks the launch of The Purple Book 2018.
The Purple Book, which stands for Pension Universe Risk Profile, gives a comprehensive view of the universe of defined benefit (DB) pension schemes that we protect. This year’s Purple Book is the thirteenth edition.
The Purple Book is vital for helping us understand the risks we face as an organisation with obligations to our members stretching into the next century, in an environment of significant uncertainty.
The information in the Purple Book is used in our Long Term Risk Model to help us determine how much compensation we might need to pay in the future. This means we can plan our funding and investment strategies accordingly to safeguard our members.
This year’s Purple Book tells us that there is still plenty of risk out there posed to us by DB schemes.
While the aggregate funding level of DB schemes has risen 5.2 percentage points to 95.7 per cent, nearly two thirds of schemes remain in deficit, with these schemes bringing a combined deficit of £187.6 billion.
The latest figures also show the average length of recovery plans for schemes in deficit has not shortened and remained stubbornly high at 7.8 years.
You can also find up-to-date information on risk reduction, asset allocation and demographics.
