Pensions support index 2016

Pension schemes no better off than ten years ago - how should they respond to Brexit?

It’s been ten years since we began tracking covenant support for defined benefit pension schemes across the FTSE 350. But despite the billions paid into schemes since 2006, our Pensions Support Index (PSI) shows support to be no better – and nearly twice as many schemes show worryingly low scores.

In this PSI update, read more on:

  • The challenging environment for upcoming scheme valuations
  • Pressure for dividends driving strain on corporate cash
  • Bruised gilt yields – how low can they go?
  • PwC’s Chief Economist, Dr Andrew Sentance, on how volatility and divergence are the ‘new normal’

With the UK now heading for ‘Brexit’ following the EU Referendum, the PSI is essential reading for trustees and companies alike.


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“Trustees and companies need to understand how their covenant will be impacted. There will be winners and losers – you will need to know which group you are in and what to do about it."

Jonathon LandPensions Credit Advisory Leader

Contact us

Jeremy May
Head of Pensions, PwC United Kingdom
Tel: +44 (0)121 232 2165

Jonathon Land
Partner, Pensions Credit Advisory Leader, PwC United Kingdom
Tel: +44 (0)20 7212 8629

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