Over the month to 30 June 2021, First Actuarial’s Best estimate (FAB) Index improved, with the surplus in the UK’s 5,318 Defined Benefit (DB) pension schemes increasing from £312bn to £355bn.

Since the last update, the Pension Protection Fund (PPF) has changed the methodology behind its assumptions it uses to calculate the PPF 7800 liabilities, from ‘A9’ to ‘A10’. Taking the new ‘A10’ methodology into account, the aggregate surplus on the PPF 7800 Index improved during June 2021, increasing from £48.1bn to £99.0bn, with the funding ratio improving to 106.

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