UK pension deficit decreases further in September, according to PwC’s Skyval Index

Oct 02, 2018

New figures released today from PwC’s Skyval Index show the deficit of defined benefit (DB) pension funds stood at £150bn at the end of September 2018, compared to a deficit of £170bn 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.5,600 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

£1,620bn

        £1,770bn

        £150bn

Steven Dicker, PwC’s chief actuary, said:

“September has seen another decrease in the deficit for UK pension schemes, the change this month being predominantly due to increases in gilt yields impacting liabilities more than assets.”

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