Now in its 17th edition, The Purple Book is the most comprehensive data and analysis of the UK defined benefit (DB) pension landscape. It’s essential for helping us understand the risks we face as an organisation.
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There are an estimated 5,131 defined benefit (DB) schemes in the eligible universe as at 31 March 2022. This year’s Purple Book dataset covers all 5,131 schemes eligible for PPF compensation.
The latest edition of The Purple Book reveals the overall net funding position of the universe of schemes improved to a surplus of £193bn in the year to 31 March 2022. The total funding ratio increased to 113.1 per cent from 102.8 per cent the previous year, which was mainly the result of market movements.
The report showed the largest-ever annual fall in liabilities within the universe of defined benefit schemes. Total section 179 liabilities fell by almost 12 per cent and buyout liabilities fell by almost 10 per cent in the year to 31 March 2022.
“Over the last year, there has been a material improvement in our funding position and in that of the schemes we protect. Although the general economic environment remains volatile, and much has changed in the economic and pensions landscapes since March, our more recent 7800 indexes show gains in funding,” said Lisa McCrory, our Chief Finance Officer and Chief Actuary.
‘We’re in an excellent position to continue to safeguard the 9.6 million DB pension savers under our protection,” she added.
Read the full press release