Skip to main content
Menu
Log In

The PPF 7800 index

Every month we publish the PPF 7800 index giving the latest estimated funding position for all eligible defined benefit schemes - on a section 179 basis. The index is an official statistic produced in accordance with the UK Statistics Authority Code.

September 2025 update

Highlights

Item

Last month

 This month

 Change

 Aggregate funding position

£241.1bn surplus

£238.9bn surplus

-£2.2bn

 Funding ratio 

127.7%

 128.1%

 +0.4pp

 Total scheme assets

 £1,112.0bn

 £1,090.5bn

-1.9%

 Total scheme liabilities

 £870.9bn

 £851.6bn

-2.2%

 Deficit of schemes in deficit

 £28.1bn

£30.0bn

+£2.2bn

 Number of schemes in universe

 4,969

4,969

 No change


For a more in-depth look at the monthly changes to our data please see the link to the index history below.

 

View the full update

View

View the index history

View

Previous updates

2025

2024

2023

Older updates are available on request.

Shalin Bhagwan, PPF Chief Actuary, said:  

"A surge in yields on long-dated gilts, reaching highs not seen since the late 1990s, saw estimated scheme liability values drop by 2.2 per cent. The corresponding drop in the price of gilts was tempered by steady improvements in equity markets, resulting in a 1.9 per cent decrease in estimated scheme asset values. The net impact of which was a slight improvement in the scheme funding ratio, up by 0.4 percentage points to 128.1 per cent."