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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.

August 2024 update

Highlights

  • The aggregate surplus of the 5,050 schemes in the PPF 7800 Index is estimated to have increased over the month to £475.5 billion at the end of July 2024, from a surplus of £473.6 billion at the end of June 2024.
  • The funding ratio decreased from 149.4 per cent at the end of June 2024 to 148.5 per cent.
  • Total assets were £1,455.9 billion and total liabilities were £980.4 billion.
  • There were 461 schemes in deficit and 4,589 schemes in surplus.
  • The deficit of the schemes in deficit at the end of July 2024 was £3.4 billion, down from £3.5 billion at the end of June 2024.

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

View the full update

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View the supporting data

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Previous updates

2024

2023

Older updates are available on request.

Shalin Bhagwan, PPF Chief Actuary said, "This month, both liabilities and assets rose as softening economic data raised confidence that the US Federal Reserve and Bank of England would soon follow the European Central Bank in cutting policy rates, causing risk-free yields to fall. However, the proportionate rise in assets was outpaced by the proportionate rise in total liabilities, leading to a small decrease in the estimated funding ratio from 149.4 per cent at the end of June 2024 to 148.5 per cent. 
 
"Despite this, the aggregate surplus of eligible DB schemes is estimated to have increased over the month to £475.5 billion at the end of July 2024, from a surplus of £473.6 billion at the end of June 2024, while the deficit of the schemes in deficit is estimated to have fallen by £100 million to £3.4 billion."