This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
A scheme’s s179 liabilities represent, broadly speaking, the premium that would have to be paid to an insurance company to take on the payment of PPF levels of compensation. This compensation may be lower than full scheme benefits.
- The aggregate deficit of the 5,450 schemes in the PPF 7800 Index is estimated to have decreased over the month to £35.4 billion at the end of December 2019, from a deficit of £71.1 billion at the end of November 2019.
- The funding ratio increased from 96.1 per cent at the end of November 2019 to 98.0 per cent.
- Total assets were £1,740.3 billion and total liabilities were £1,775.7 billion.
- There were 3,168 schemes in deficit and 2,282 schemes in surplus.
- The deficit of the schemes in deficit at the end of December 2019 was £184.9 billion, down from £208.9 billion at the end of November 2019.
For a more in-depth look at the monthly changes to our data please read the full update and the supporting data on the PPF 7800 index page.