Over the month to 31 July 2021, First Actuarial’s Best estimate (FAB) Index fell slightly, with the surplus in the UK’s 5,318 Defined Benefit (DB) pension schemes decreasing from £355bn to £342bn.

The aggregate surplus on the PPF 7800 Index also worsened during July 2021, decreasing from £99.0bn to £62.4bn, with the funding ratio falling from 106% to 103%.

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