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.

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First Actuarial case studies

The Kennel Club

Concerned about the risk of an Employer contribution increase as a result of high liabilities, Trustees of the Kennel Club Pension Fund turned to First Actuarial.

“They’re extremely professional and helpful. Their input always seems sound, logical and well presented. First Actuarial handled the transition well, they provide us with helpful guidance, and have delivered what they promised when they pitched for the work.”



The RSPB was determined to minimise the impact of its new defined contribution scheme on employees, and appointed First Actuarial to support the transition and select a provider with strong ethical values.

“I would definitely recommend working with First Actuarial. Their consultants went over and above the call of duty to make sure the project progressed smoothly.”


Bolton Cares

Taking responsibility for care services previously provided by a local authority, Bolton Cares turned to First Actuarial for help in setting up a competitive and affordable DC pension scheme for its staff.

“They’ve been really helpful and professional throughout the project, and we’ll use them again if we need specialist advice.”

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