PPF publishes PPF 7800 index update for July 2022

Article summary

The Pension Protection Fund (PPF) has published the July 2022 edition of the PPF 7800 index, which shows the state of defined benefit pension scheme funding at the end of June 2022. The PPF 7800 Index provides the latest estimated funding position, on the basis of section 179 of the Pensions Act 2004, for the defined benefit schemes potentially eligible for entry to the PPF. The July 2022 update estimates that the average surplus has increased to £267.9bn at the end of June 2022, up from £261.6bn at the end of May 2022, with a funding ratio increase from 118.9% to 120.1% over the same period. 3,817 schemes are in surplus with the remaining 1,398 schemes in deficit, though that deficit has reduced from £28.2bn to £25.3bn over the May–June 2022 period.