The deficit of defined benefit (DB) pension funds stood at GBP510 billion at the end of May 2017, a GBP20 billion decrease since last month, figures from PwC’s Skyval Index show.
PwC’s Skyval Index, based on the Skyval platform used by pension funds, provides an aggregate health check of the UK’s circa 5,800 DB pension funds.
Steven Dicker, PwC’s chief actuary, says: “Despite continuing political uncertainty, equity markets are at an all time high, which has helped to reduce the deficit.
“Whether the improvement in funding will be sustained in the short term is more questionable, and continued volatility seems likely.”
