PPF: DB universe drops back into red

£31.9bn deficit

James Phillips
clock • 2 min read

Defined benefit (DB) schemes fell back into deficit on aggregate over December as gilt yields and asset returns fell, the Pension Protection Fund (PPF) has said.

At the end of 2018, the combined funding level of 5,450 schemes was 98% with a deficit of £31.9bn on a section 179 basis, compared to 100.9% and a surplus of £14.3bn in November. Some 3,271 schemes finished the year with a collective shortfall of £166.4bn, while 2,179 schemes held a surplus of £134.6bn. The deterioration was marked by a £9bn fall in asset values and a £37.2bn increase in liabilities. While the month saw a significant worsening of funding positions, the figures are still considerably better than those recorded at the end of 2017. Over the course of the year, the fundin...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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