Purple Book Released - Review my pensions

Latest DB scheme data pubished in the Purple Book

Latest DB scheme data published in the Purple Book

The Pension Protection Fund (PPF) have published their latest edition of The Purple Book.

The Purple Book tracks the health and strategy of pension schemes. It contains key statistics and analysis of the UK’s defined benefit schemes. The Purple Book is available online here.

Below are the 6 most striking headlines from the Purple Book 2019

defined benefit schemes reduced in numbers from a high in 2006 of 7,751, there are now only 5,346 DB schemes remaining in 2019

the number of scheme members has also reduced, falling by 3.9 million DB scheme memberships to a total of 10.1 million in 2019

a total deficit showing in 2019 of £160 billion across all DB schemes

44% of DB schemes now closed to all further accrual. Many DB scheme members have taken employer incentives to switch to defined contribution pension schemes

schemes applying to the Pension Protection Fund for financial support had a success rate of 89% in 2019

The Pension Protection Fund is currently assessing £11.2bn of defined benefit scheme assets, being a total of 73 schemes

The Purple Book 2019 was published in January 2020, using data from 31st March 2019.

Purple Book Released

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Pension Transfer Personality Quiz

Take our free pension transfer personality quiz to find out if a pension transfer is right for you!

1 / 10

How would you describe your investment or financial planning experience?

I have never taken invested money in the markets, I don’t understand pensions and have no interest in financial planning

I take some interest in my planning and would like to explore my options

I have a keen interest in finances and the markets, and have some investment experience

2 / 10

Where will you live in retirement?

I will live in the UK and be a UK taxpayer

I am uncertain of where I will live, it could be abroad

I will not live in the UK in retirement

3 / 10

What sort of taxpayer will you be in retirement?

I will pay modest UK tax, with total income under £40,000 per annum

I will be a UK higher rate taxpayer

I will not be a UK taxpayer as I will live abroad

4 / 10

How would you describe your relationship with money and finances?

I have a poor relationship with money. I struggle to keep to a budget and tend to overspend.

I have a realistic attitude to money and finances. I save surplus income and live within my means. I take some interest in my finances.

I have a good relationship with money. I focus on long-term savings and take interest in my financial planning. I have a good understanding of pensions and am comfortable discussing financial topics.

5 / 10

Are your essential outgoings already covered by other retirement income?

No, my pension will be used for essential outgoings

Partly, I do have other sources of income for retirement

My essential outgoings will be covered by other income in retirement

6 / 10

Will anyone else be reliant on your pension for their financial security?

Yes, this will be the main source of income for our household in retirement

Partially, but my loved ones have other resources for their retirement

No one else is dependent on my pension income

7 / 10

When you retire, will you need to withdraw a lump sum?

I do not require a specific lump sum, but the option would be nice

I will need some funds at retirement

I want to take the maximum lump sum available

8 / 10

Do you require ad-hoc access to your pension funds in retirement?

No, a structured income would be enough

I would like the option to take ad-hoc withdrawals

I would like my pension to be flexible and allow ad-hoc withdrawals

9 / 10

How would your ideal retirement income be structured?

I want a guaranteed monthly income for life

I want some financial protection, with some flexibility

I want my pension income to be flexible and under my control

10 / 10

If you died, who would you want to benefit from your pension money?

I would like my spouse/civil partner to benefit from a pension income for their lifetime

I would like my spouse to benefit first, with money then left to children or other loved ones

I would like to have the flexibility to choose and change who benefits from my money

Only provide your details if you are happy for us to contact you about your planning

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Latest DB scheme data published in the Purple Book

Below are the 6 most striking headlines from the Purple Book 2019

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