The Pension Cost Accounting Index shows the financial position of the UK’s 5,422 DB pension funds on an accounting basis.

This gives Finance Directors early warning of changes in financial conditions.

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July 2020 – Commentary

Falls in corporate bond yields and steady expectations of inflation over July led to an increase in IAS19 and FRS102 liabilities. At the same time, growth assets have fallen in value, although increases in the value of matching assets will have offset these losses to some extent. Overall, we have seen a slight worsening of the Pension Cost Accounting position of the UK’s DB schemes, although the position for individual schemes will vary significantly depending on liability profile and investment strategy, among other factors.

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