Pension Protection Fund

@ppf.co.uk

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We protect millions of people in the UK who belong to defined benefit pension schemes. When these schemes fail, we’re ready to help. https://www.ppf.co.uk/

Assets under management - £31.5bn Future claims and risk reserves - £15.1bn Current claims liabilities - £16.4bn Return on growth assets - 7.1% PPF benefits paid - £1.2bn PPF levy collected - £0
A quote from Shalin Bhagwan, our Chief Actuary“During May, market sentiment continued to be shaped by the energy uncertainty from the conflict in the Middle East. Asset and liability values of the PPF-eligible DB universe increased over the month as bond yields eased slightly. Softer data releases and optimism on conflict resolution helped to bring down inflation expectations and reduced market confidence that central banks will tighten policy later in the year. At the same time, overseas equity markets continued to perform well, supported by resilient corporate earnings - particularly in the US - and ongoing investor optimism around AI-driven growth. “Against this backdrop, the PPF 7800 index recorded a £5.3bn increase in the estimated aggregate funding position, taking it to a surplus of £263.8bn. The funding ratio remained steady at 131.2 per cent, as both scheme asset and liability values rose by 2.0 per cent.”
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The image contains a text on a green background Authored by Shalin Bhagwan, Chief Actuary: “Market conditions remained challenging through the month as persistent inflation pressures and elevated energy prices kept global bond yields high. Expectations of further central bank tightening continued to build, with UK gilt yields rising as investors reassessed the path of monetary policy. Against this backdrop, risk asset performance was mixed and bond markets remained under pressure. "Within this environment, the PPF 7800 index recorded a £5.3bn fall in the aggregate funding surplus, taking it to £258.5bn. The funding ratio dipped to 131.2 per cent, as scheme assets fell by 1.6 per cent and liabilities by 1.4 per cent. Despite the modest softening, funding levels remain robust, supported by the continued influence of higher discount rates."
Our CIO stands at a podium speaking to an audience at a conference. On the screen is a presentation titled "Signals in the Noise: Building Pension Resilience in an Uncertain World" by Barry Kenneth, CIO of the Pension Protection Fund. The setting is a large conference room with attendees seated and listening attentive
A person wearing a hat sits on a bench by the seaside, petting a dog. The ocean and a cliff are visible in the background. The text reads: "The Pension Schemes Act supports us to improve the service we offer to our members and the schemes we protect.