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The PPF 7800 Index

Since July 2007 the Pension Protection Fund has published the latest estimated funding position, on a s179 basis, for the defined benefit schemes in its eligible universe.

The updates from the end-of March 2009 are based on more up to date scheme data than used in earlier estimates, and use the same actuarial assumptions for s179 valuations in place since end-of March 2008. The impact of the new scheme data is to improve funding by about £15bn compared with estimates based on the earlier data set.  The new data set covers around 7,400 schemes somewhat lower than almost 7800 in the earlier updates.

The estimates are, as before, based on scheme valuation data, which has been adjusted to consistent dates on an approximate basis, using changes in market indices for principal asset classes, and the fixed interest and index-linked gilt yields used to value liabilities.

Please note that from March 2009, the PPF 7800 index will be published on the second Tuesday of every month.

June 2009 - Highlights

• The aggregate funding position (total assets minus total liabilities) of around 7,400 DB funds is estimated to have improved over the month to a deficit of £179.3 billion at end-May 2009, from a deficit of £188.5 billion at end-April 2009 (Chart 1 and Table 1). Scheme funding is worse than it was a year previously (there was a surplus of £51.0 billion in May 2008).
• The total deficit of schemes in deficit in May 2009 is estimated to have improved to £196.8 billion from £204.8 billion at the end of April 2009 (Chart 3 and Chart 4).  In May 2008, the aggregate deficit of all schemes in deficit stood at £45.0 billion.
• In May 2009, the total surpluses of schemes in surplus rose to £17.5 billion from £16.4 billion at the end of April 2009 (Chart 6).  In May 2008, the total surplus of all schemes in surplus stood at £96.0 billion.

View the full June 2009 update

View the underlying data used in the PPF 7800 updates



Previous updates

May 2009 update

April 2009 update

March 2009 update

February 2009 update

January 2009 update

December 2008 update

November 2008 update

October 2008 update

September 2008 update

August 2008 update

July 2008 update

June 2008 update

May 2008 update

April 2008 update

March 2008 update

February 2008 update

January 2008 update

December 2007 update

November 2007 update

October 2007 update

September 2007 update

August 2007 update

July 2007 update

The PURPLE Book was published in December 2006 pulling together data and analysis on the DB landscape in order to provide the industry with a much needed single credible information source. It will be published annually.