Pension scheme funding improves amid renewed Middle East conflict – PPF
The Pension Protection Fund (PPF) 7800 Index showed the aggregate surplus grew by £7.3bn, reaching £271.3bn at the end of July.
Pension scheme funding improved in July despite renewed conflict in the Middle East, according to the Pension Protection Fund (PPF) 7800 Index.
The index showed the aggregate surplus grew by £7.3bn, reaching £271.3bn at the end of July.
The funding ratio increased 1.9 percentage points, moving from 131.1% to 133.0%.
The number of schemes in surplus rose to 3,821, representing 79% of all schemes.
Total scheme assets fell 1.7% to £1,093.3bn, while total scheme liabilities dropped 3.1% to £822.0bn.
The deficit among schemes in deficit decreased by £0.2bn.
Sarah Elwine, actuarial director at Broadstone, said: “Pension schemes continue to enjoy historically healthy funding levels as strong equity market performance drove further improvements in funding ratios.
“As we head deeper into the second half of the year, trustees will be evaluating how the conflict in the Middle East continues to impact expectations over the future trajectory interest rates.
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