The FAB (First Actuarial Best-estimate) Index shows the financial position of the UK’s 5,450 DB pension funds on a long-term basis, allowing for realistic future investment returns.
It is updated every month using data from the PPF 7800 Index, to help trustees better understand the likely value of fund liabilities.
Over the month to 30 June 2019, First Actuarial’s Best estimate (FAB) Index improved, with the surplus in the UK’s 5,450 Defined Benefit (DB) pension schemes increasing from £387bn to £401bn. The deficit on the PPF 7800 Index decreased during June 2019 from £69.9bn to £51.7bn, with the funding ratio reducing from 96% to 97%.
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.”
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.”
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.”