13Mar

U.K. pension fund surplus and funding ratio rises in February

News , ,

The total surplus of U.K. corporate pension funds covered by the Pension Protection Fund, London’s 7800 index increased by 4% in February to £442.3 billion ($559.8 billion), while the funding ratio also rose.

The funding ratio increased to 146.1% as of Feb. 29, compared to 143.9% at the end of January, an update said.

The total deficit of all plans with a shortfall was £3.9 billion as of Feb. 29, down from £4.3 billion as of Jan. 31. Total assets were £1.4 trillion, up 0.4% month-on-month, and total liabilities were £958.5 billion, a 1.7% decrease for the month. There were 529 pension funds in deficit and 4,521 plans in surplus as of Feb. 29.

“Over the past month, we’ve seen positive movements across our estimates in the PPF 7800 index,” Shalin Bhagwan, chief actuary at the PPF, said in the update. “These movements resulted from both a decrease in the liabilities of schemes in the defined benefit universe by 1.2% and a net rise in the value of assets held of 0.4%.”

According to Bhagwan, falling liabilities were a result of an increase in shorter-dated gilt yields as stronger inflation data meant that markets priced a later and shallower rate-cutting path for global central banks.

 

Read more pionline

Related Posts

26Apr

Mexican lawmakers approve new pension fund backed by president

Mexico's Senate approved the creation of a new pension fund on Thursday aimed at boosting payouts to the lowest-earning... read more

26Apr

Nearly Half of the Largest US Pension Funds are More Than 100% Funded, Milliman Reports

Milliman, which tracks the status of the largest 100 corporate defined benefit plans in the U.S., reported that corporate... read more

26Apr

UK. Public trust in pensions rises, but reservations remain

Trafalgar House’s Trust and Confidence Index polled 2,000 people to assess how much they trust the pension industry and... read more

26Apr

Ghana. SSNIT reserves projected to hit zero in 12 years – ILO

This was revealed in an actuarial valuation study of the Social Security and National Insurance Trusts (SSNIT) viability. According to... read more

26Apr

Canada. 73% of OPB plan members want ESG considerations included in investment decisions: survey

Roughly seven in 10 (73 per cent) Ontario Pension Board plan members believe environmental, social and governance factors should... read more

25Apr

U.S. corporate pension funding remains near 100% in 2023 — Milliman

U.S. corporate pension plan funding ratios fell slightly to 98.5% in 2023 due to falling discount rates, according to... read more

25Apr

UK. Nearly half of pension holders haven’t considered inheritors

Almost half (46 per cent) of UK adults with pensions have not considered who should inherit them, research from... read more

25Apr

China’s unique retirement plan: why children still matter when it comes to support in old age

At the end of last year, the number of people in China aged 65 and above reached 217 million,... read more

24Apr

Mexico president eyes fresh pension fund ahead of election

Mexican President Andres Manuel Lopez Obrador said on Tuesday he hopes to present a new fund aimed at boosting... read more

24Apr

US. Government announces rule that updates investment advice fiduciary definition

The Biden-Harris administration announced today that the U.S. Department of Labor has finalized its Retirement Security Rule to protect the millions... read more