PwC has questioned whether funded public-sector schemes such as the Local Government Pension Scheme (LGPS) will look to use surpluses to help fund employer and employee contributions.
The aggregate surplus of the 5,050 defined benefit (DB) schemes in the Pension Protection Fund (PPF) 7800 index fell to £425.4bn at the end of January this year.
PwC has urged the UK’s 5,000 corporate defined benefit (DB) pensions schemes to consider endgame options as funding reached a record surplus of £250bn in October.
The aggregate surplus of the 5,131 schemes in the PPF 7800 index is estimated to have decreased over the month to £441.1bn at the end of August 2023, from a surplus.