FAB Index, 30 November 2020

Since the previous update, the Pension Protection Fund (PPF) has published its latest report on key information about UK pension schemes – The Purple Book.

After taking the changes in the Purple Book on board, over the month to 30 November 2020, First Actuarial’s Best estimate (FAB) Index fell, with the surplus in the UK’s 5,318 Defined Benefit (DB) pension schemes reducing from £307bn to £277bn.

The deficit on the PPF 7800 Index improved during November 2020, decreasing from £168.2bn to £78.8bn, with the funding ratio increasing from 91% to 96%.

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.