The aggregate s179 funding ratio improved by 21.2 percentage points over the year to 31 March 2023 to a record high of 134.3 per cent. The deficit of schemes in deficit improved from £61.1 billion to £8.2 billion.
The trend of schemes closing to benefit accrual has continued, with this status now covering more than 50 per cent of schemes.
The best funded schemes sit at opposite ends of the size spectrum. An aggregate s179 funding ratio of 137.8 per cent for schemes with more than 10,000 members and 133% for schemes with less than 100 members.
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