Pension Funds Deficits Widen in August

The Pension Protection Fund, on Tuesday September 8th, released update of its PPF 7800 Index, on the funding position of the defined benefit (DB) pension schemes in the PPF eligible universe.

Highlights include:

• The aggregate funding position (total assets minus total liabilities) of almost 7,400 DB funds is estimated to have worsened to £173.2 billion at the end of August from £158.1 billion at the end of July 2009. At the end of August 2008 the deficit had been just £39.3 billion.
• The total deficit of schemes in deficit in August 2009 is estimated to have worsened to £194.6 billion from £179.0 billion at the end of July 2009. In August 2008, the aggregate deficit of all schemes in deficit was £92.7 billion.
• The total surpluses of schemes in surplus increased to £21.4 billion from £20.9 billion at the end of July 2009. In August 2008, the total surplus of all schemes in surplus stood at £53.4 billion.
• The number of schemes in deficit rose to 6,304 in August, up from 6,265 schemes in deficit at the end of July 2009, This represents 85 per cent of total DB schemes in the sample.

Pension Protection Fund: PPF 7800 Index Update [PDF].

Pension Protection Fund: Underlying Data to end of August 2009 [XLS].

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