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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 2026 update

Highlights

Item

Last month

 This month

 Change

 Aggregate funding position

£273.6bn surplus

£280.7bn surplus

+£7.1bn

 Funding ratio 

133.4%

135.0%

 +1.6pp

Total scheme assets

£1,092.3bn

£1,081.9bn

-1.0%

 Total scheme liabilities

£818.7bn

£801.2bn

-2.1%

 Deficit of schemes in deficit

£21.5bn

£20.5bn

-£1.0bn

Number of schemes in universe

4,838

4,838

 No change


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

In our December 2025 update, we highlighted that the government had announced that it would legislate to allow us to pay prospective indexation starting from 2027 for service accrued pre-1997 for members of schemes who provided this as a right. As well as schemes that have already transferred to the PPF, this will also impact the s179 liabilities of schemes in the PPF universe. In April, the Pension Schemes Act 2026 received Royal Assent. We intend to reflect the impact of these changes in the PPF 7800 index in due course.

 

 

View the full update

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View the index history

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Previous updates

2026

2025

2024

Older updates are available on request.

Aaron Pang, Acting Chief Actuary, said:  

“The aggregate funding position of the PPF eligible universe strengthened during September, with the surplus increasing by £7.1 billion to £280.7 billion and the funding ratio rising to 135.0 per cent. This was driven by a 2.1 per cent fall in total scheme liabilities, compared with a 1.0 per cent fall in total scheme assets. At £801.2 billion, liabilities are now at their lowest level since 2007, reflecting the impact of higher gilt yields and underlining the continued strength of DB scheme funding.”