PwC Skyval Index shows £80bn drop in UK pension deficit during April

May 01, 2019

New figures released today from PwC’s Skyval Index show the deficit of defined benefit (DB) pension funds stood at £180bn at the end of April 2019 - a decrease of £80bn from the previous month end.

PwC’s Skyval Index, based on the Skyval platform used by pension funds, provides an aggregate health check of the UK’s c.5,450 corporate DB pension funds.  The current Skyval Index figures, based on the 'gilts plus' method widely used by scheme actuaries, are:

Assets

Liability target

   Deficit

£1,660bn   

£1,840bn

   £180bn

Steven Dicker, PwC’s chief actuary, said:  

“The upward trend in equities and pick up in bond yields contributed to a reduction in the deficit. In addition, the annual update to the assumed future mortality improvement tables also reduced the deficit, due to a slowing down of life expectancy improvements.”

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