According to PwC’s Skyval Index
New figures released today from PwC’s Skyval Index show the deficit of defined benefit (DB) pension funds stood at £510bn at the end of May 2017, a £20bn decrease since last month (see note to editor).
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 DB pension funds. The current Skyval Index figures are:
|Assets||Liability target||Deficit||Deficit change since last month|
|Funding measure (current)||£1,550bn||£2,060bn||£510bn||£20bn decrease|
|Funding measure adjusted for reduced life expectancy projections||£1,550bn||£1,780bn||£230bn||£10bn increase|
Steven Dicker, PwC’s chief actuary, said: “Despite continuing political uncertainty, equity markets are at an all time high, which has helped to reduce the deficit.
“Whether the improvement in funding will be sustained in the short term is more questionable, and continued volatility seems likely.”