Marvin OnumonuThe Pension Protection Fund (PPF) published the latest 7800 Index, showing the estimated funding position for all eligible defined benefit (DB) pension schemes on a section 179 basis.
The figures for February 2026 show a £265.6bn surplus, up by £5.9bn from the previous month.
The funding ratio climbed to 131.0% from 130.2%.
Total scheme assets rose to £1,123.1bn, while liabilities fell to £857.5bn.
The deficit among schemes in deficit dropped by £0.5bn to £18.4bn, and the number of schemes in the universe stayed the same at 4,838.
Jaime Norman, senior actuarial director at Broadstone, said: “Pension schemes experienced a steady start to the year, building on the positive momentum generated through 2025.
“Pension schemes continue to be extremely well-funded with around four in every five schemes sitting on a surplus.
“Looking ahead to the rest of 2026, trustees are in a strong position to consider a widening range of end-game options.”
Norman added: “The de-risking sector looks set for another strong year with buoyant scheme demand while three significant insurer corporate transactions are set to complete this year.
“It will also be interesting to see whether superfunds can begin to grow their market share or how more schemes explore the option to run on with improved access to surpluses.”
