New figures show
New figures released today from PwC’s Skyval Index show the deficit of defined benefit (DB) pension funds stood at £200bn at the end of May 2018.
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 current Skyval Index figures, based on the ‘gilts plus’ method widely used by scheme actuaries, are:
Steven Dicker, PwC’s chief actuary, said: “The aggregate deficit continued recent falls for most of the month. However, the last week of May has seen the deficit pushed back up and it ends the month at £200bn which is unchanged from last month.
“Asset performance was positive over the month. However, this was offset by an increase in the value of liabilities due to movement in the market indicators used in their measurement.
“The past week shows that the funding level remains volatile and this is likely to be the case throughout 2018 while we await a clearer economic picture.”