Over the month to 31 December 2020, First Actuarial’s Best estimate (FAB) Index remained broadly stable, with the surplus in the UK’s 5,318 Defined Benefit (DB) pension schemes increasing slightly from £310bn to £318bn.

The deficit on the PPF 7800 Index worsened slightly during December 2020, increasing from £78.8bn to £86.4bn, with the funding ratio remaining at 96%.

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