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.
Contact us if you have concerns about the health and strategy of your DB pension.