This month there are two updates to the way the PPF 7800 index is calculated:
- We are moving to the new Purple Book 2018 dataset, re-stating the funding position from March 2018 to October 2018 to reflect this new data. The impact as at 31 October 2018 is an increase in the funding level of 2.3 percentage points.
- The PPF 7800 index for end-November takes account of the new version (A9) of the actuarial assumptions for s179 valuations, introduced with effect from 1 November 2018. The impact of the change is a further increase of the funding level by 5.1 percentage points.
- The aggregate funding position of the 5,450 schemes in the PPF 7800 Index is estimated to have improved over the month to a surplus of £14.3 billion at the end of November 2018, from a deficit of £67.2 billion at the end of October 2018.
- The funding level increased from 95.9 per cent at the end of October 2018 to 100.9 per cent.
- Total assets were £1,580.3 billion and total liabilities were £1,566.0 billion.
- There were 3,008 schemes in deficit and 2,442 schemes in surplus.