FAB Index, 30 June 2021 - First Actuarial

Over the month to 30 June 2021, First Actuarial’s Best estimate (FAB) Index improved, with the surplus in the UK’s 5,318 Defined Benefit (DB) pension schemes increasing from £312bn to £355bn.

Since the last update, the Pension Protection Fund (PPF) has changed the methodology behind its assumptions it uses to calculate the PPF 7800 liabilities, from ‘A9’ to ‘A10’. Taking the new ‘A10’ methodology into account, the aggregate surplus on the PPF 7800 Index improved during June 2021, increasing from £48.1bn to £99.0bn, with the funding ratio improving to 106.

First Actuarial case studies

Usdaw

Trade union Usdaw selected First Actuarial to transform its scheme administration, resulting in improved quality and time-cost savings.

Southern Co-op

First Actuarial's fiduciary management consultants guided the trustees of Southern Co-op through their provider review, delivering fee savings.

Oil and Gas Industry

Oil and gas company DB scheme wind-up resulted in generous transfers for members and £3m surplus for employer, with First Actuarial’s help.