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DB funding surplus falls to £263.8bn amid Middle East conflict


By Ellie Carric

The aggregate surplus of defined benefit (DB) pension schemes in the Pension Protection Fund’s (PPF) 7800 Index fell by £9.9bn during March 2026, resting at a £263.8bn surplus.

The latest update to the index, which reflected the scheme valuation data submitted to The Pensions Regulator as part of 4,838 schemes’ annual returns, showed a slight decline from February’s £273.7bn surplus.


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FCA sets out open finance vision to boost data access and financial outcomes

The Financial Conduct Authority (FCA) has set out its vision for open finance, outlining plans to give consumers and businesses greater control over their financial data to improve access to products, enhance competition and support economic growth

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Graham Asset Management Pension and Life Assurance Scheme completes £1m ‘micro’ buy-in with L&G

The Graham Asset Management Pension and Life Assurance Scheme has finalised a £1m buy-in with L&G, securing the benefits of 13 deferred and pensioner members

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Trust in pensions edges up but confidence remains ‘fragile’

Trust in the pensions industry has risen slightly in 2026, although overall public confidence remains fragile, research from Trafalgar House has revealed

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New DB funding valuations a ‘real opportunity’ to set long-term direction

Valuations under the new defined benefit (DB) funding regime present a key opportunity for trustees and sponsors to reassess long-term strategy, according to LCP, which has shared a series of tips based on early experience of the framework

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44% of UK employees do not fully understand workplace pensions

Almost half (44 per cent) of UK employees do not fully understand their workplace pension scheme, new research by pension provider Penfold has found

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Dashboard connection 'just the start' of member engagement surge

Pension schemes must prepare for a significant rise in member engagement as the rollout of pensions dashboards approaches, Festina Finance has warned, adding that connection alone is not the end of the process

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AI usage 'universal' across pensions - SPP

The Society of Pension Professionals (SPP) has revealed that 100 per cent of the UK pensions sector is now using artificial intelligence (AI) in services, up from 87 per cent of respondents last year, according to a survey of its members
Annuity break‑even period shortens by seven years as rates rise

Rising annuity rates have shortened the break-even period by seven years compared with 2021, analysis by Canada Life has indicated
Longevity risk climbs agenda as DB schemes assess run-on strategies

Tackling longevity risk is becoming an increasing priority for UK defined benefit (DB) pension schemes, as more schemes reassess their endgame strategies amid a growing focus on run-on, according to Aon
One in six retirees consider returning to work as cost pressures bite

One in six (16 per cent) retirees have either returned to work or are considering doing so as rising living costs continue to squeeze retirement incomes, research from Standard Life has revealed

Investors must adapt to ‘complex’ responsible investment landscape

Investors must adapt to an increasingly complex responsible investment (RI) landscape in 2026, as a combination of technological, environmental and regulatory megatrends reshape opportunities and risks, according to a report from Nuveen
Advisers step up planning ahead of IHT pension changes

Advisers are taking steps to prepare clients for the inclusion of pensions in inheritance tax (IHT) calculations from April 2027, as nearly six in 10 advisers (57 per cent) say their clients remain uncertain about the changes, according to the Scottish Widows Investor Confidence Barometer


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Going private: The asset class gathering pace

As the Mansion House Compact and Accord take hold, UK pension schemes are stepping up allocations to private markets. Sandra Haurant reports

Is this the real life? Is this just fantasy?

The challenge for the pensions industry to spot AI-generated ‘deepfakes’, and the role they may play in identity fraud

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Cheap and cheerful?

The debate between cost and value has continued to persist, as whilst increased scale has allowed providers to negotiate better fees, not all are convinced that this is delivering the best value for savers

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Incorporating private markets into DC funds
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