UK pension deficit decreases further as of end of August, according to PwC’s Skyval Index

Sep 06, 2018

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New figures released today from PwC’s Skyval Index show the deficit of defined benefit (DB) pension funds stood at £170bn at the end of August 2018 compared to a deficit of £180bn at 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.5,800 corporate DB pension funds.  The Skyval Index figures, based on the ‘gilts plus’ method widely used by scheme actuaries, are:

Assets 

    Liability target    

Deficit

£1,630bn

    £1,800bn

£170bn

Steven Dicker, PwC’s chief actuary, said:

“August saw a further small reduction in the deficit for the UK pension schemes.

“The reduction in deficit is mainly attributable to strong asset performance. However, as economic uncertainty rumbles on, it’s not clear how long this positive trend will hold up.”

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