PPF: DB universe drops back into red

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...