About Pendragon and what we do
About the people at Pendragon
About our electronic information service
Pensions Surveys
How to contact us
Pendragon home page

Your one point of access to surveys, research and reports for the Pensions Professional

UK pension deficit remains level over November, masking drop in liabilities and assets
PwC Skyval Index
29 Nov 2018 United Kingdom Funding and Minimum Funding Requirement, Scheme Issues & Trends, Surpluses and Deficits
Key Details:
  • New figures released today from PwCs Skyval Index show the deficit of UK defined benefit (DB) pension funds stand at 230bn at the end of November 2018, in line with the deficit at the previous month end.
  • PwCs Skyval Index, based on the Skyval platform used by pension funds, provides an aggregate health check of the UKs c.5,600 corporate DB pension funds.  The current Skyval Index figures, based on the 'gilts plus' method widely used by scheme actuaries, are:

Liability target

Comment: While the deficit of the UK pension schemes remained unchanged over November, this masks a drop of some 20bn in both assets and liabilities, which has been driven predominantly by a rise in gilt yields over the month. The Index is based on the most widely used approach by scheme actuaries for setting discount rates - gilt yields plus a margin - and these figures show the inherent volatility of this method from month to month.
source: PwC Press Release