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The PPF 7800 Index

Following the publication of the PURPLE book in December 2006, the Pension Protection Fund publishes monthly updates providing the latest estimated funding position, on a s179 basis, of almost 7,783 predominantly private sector defined benefit (DB) pension schemes in the UK. This is called the PPF 7800.

The updates from the end-of March 2008 are based on a more up to date data set than that used in the earlier updates, and use new actuarial assumptions for s179 valuations.  The impact of these changes is to improve funding by about £80bn compared with estimates based on the earlier data set and actuarial assumptions.

The estimates are, as before, based on scheme valuation data, which has been adjusted to consistent dates on an approximate basis, using changes in market indices for principal asset classes, and the fixed interest and index-linked gilt yields used to value liabilities.

November

2008 - Highlights

• The aggregate funding position (total assets minus total liabilities) of almost 7,800 DB funds is estimated to have worsened over the month to a deficit of £97.3 billion at end-October 2008, from a deficit of £80.3 billion at end-September 2008 (Chart 1 and Table 1).  Scheme funding is worse than it was a year previously (there was a surplus of £84.1 billion in October 2007).
• The total deficit of schemes in deficit in October 2008 is estimated to have worsened to £122.1 billion from £113.5 billion at the end of September 2008 (Chart 3 and Chart 4).  In October 2007, the aggregate deficit of all schemes in deficit stood at £36.9billion.
• In October 2008, the total surpluses of schemes in surplus fell to £24.7 billion from £33.2 billion at the end of September 2008 (Chart 6). In October 2007, the total surplus of all schemes in surplus stood at £121.0 billion.

View the full November 2008 update and charts

View the underlying data used in the PPF 7800 updates

Previous updates

October 2008 update

September 2008 update

August 2008 update

July 2008 update

June 2008 update

May 2008 update

April 2008 update

March 2008 update

February 2008 update

January 2008 update

December 2007 update

November 2007 update

October 2007 update

September 2007 update

August 2007 update

July 2007 update

The PURPLE Book was published in December 2006 pulling together data and analysis on the DB landscape in order to provide the industry with a much needed single credible information source. It will be published annually.