OrganisationGB
Pension Protection Fund
A statutory fund protecting members of UK defined-benefit pension schemes.
Last refreshed: 27 July 2026 · Appears in 1 active topic
Key Question
If defined-benefit pensions hold a £264bn surplus, which British ledger is actually healthy?
Timeline for Pension Protection Fund
#1 30 Jun
Reported a 131.1%-funded, £264.0bn aggregate DB surplus
Is Britain Actually Broke?: Pension schemes sit £264bn in surplusBackground
The Pension Protection Fund is a statutory lifeboat protecting members of failed defined-benefit pension schemes, funded by a levy on the schemes it could one day have to rescue. Its PPF 7800 index showed the schemes it monitors 131.1% funded, with a £264.0bn aggregate surplus across 4,838 schemes, as of July 2026. On this ledger of British balance sheets, occupational pensions are the counter-indicator: a genuine surplus, not a strain.
Common Questions
Are UK defined-benefit pensions in surplus or deficit?
In surplus. The Pension Protection Fund's PPF 7800 index showed schemes 131.1% funded with a £264.0bn aggregate surplus in July 2026.Source: Pension Protection Fund
What does the Pension Protection Fund do?
It is a statutory fund that protects members of UK defined-benefit pension schemes if their employer becomes insolvent.
How many pension schemes does the PPF 7800 index cover?
The index covers 4,838 defined-benefit schemes, reporting them 131.1% funded in July 2026.Source: Pension Protection Fund
Is the pension surplus evidence Britain isn't broke?
It is one genuinely healthy ledger among several under strain: the £264.0bn DB pension surplus contrasts with council and university deficits reported the same year.Source: Lowdown analysis