08.02.11

Financial Position of UK Occupational Pension Schemes Improves

Latest information from the Pension Protection Fund (PPF) estimates that by the end of January, nearly 44 per cent of occupational pension schemes in the UK were in surplus, an improvement of nearly 10 per cent since the same time a year ago.

According to the PPF, 2,864 schemes were in surplus at the end of January, whilst 3,696 were still in deficit.

The overall surplus for the 6,560 schemes in the PPF’s 7800 index was estimated to be £46.1 billion, compared with a deficit of nearly £13 billion at the end of January last year.  Total assets were estimated to be £973.3 billion and total liabilities were estimated to be £927 billion, up from £872 billion and £885 billion respectively at the end of January 2010.

The improvement over the past 12 months was mainly due to a rise in share prices.

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