Rising equities drive DB pension improvement

clock

The financial performance of defined benefit (DB) pension schemes improved in November on the back of rising equity markets, according to the Pension Protection Fund (PPF).

In its monthly survey, the PPF says the total deficit of nearly 7,400 final salary pension funds fell from £97.6bn at the end of October to £92.5bn by the end of November. Of those schemes not in deficit, total surpluses increased to £40.4bn from £37.5bn at the end of October. The number of schemes in surplus also increased during the month to 1,558, or 21%. Furthermore, the number of DB schemes in surplus is higher than last year, with 1,276 in surplus in November 2008. The positive figures come on the back of an improving economic picture which has seen equity markets make up gro...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Labour scrapping higher rate pensions tax relief is 'politically unlikely'

Labour scrapping higher rate pensions tax relief is 'politically unlikely'

Despite being ‘potentially lucrative’

Isabel Baxter
clock 30 September 2024 • 4 min read
Failed Hartley Pensions clients face months-long SIPP transfer document delays

Failed Hartley Pensions clients face months-long SIPP transfer document delays

Frustrated client notes that communications were promised from April to June

Isabel Baxter
clock 29 August 2024 • 3 min read
British Steel pensions transfer advice debacle in numbers

British Steel pensions transfer advice debacle in numbers

‘The FCA continues to pursue those who gave poor advice’

Isabel Baxter
clock 29 July 2024 • 3 min read