UK - Analysis of the defined benefit (DB) pension landscape has shown the number of schemes in deficit, on a s179 basis, has fallen by 10% in the year up until 30 March 2007.
It found, on a s179 basis, 64% of the 5,772 schemes in the 2007 sample were in deficit with a total deficit of £43.4bn, and 36% were in surplus with a total surplus of £87.3bn.
This compared to the year up to 31 March 2006, when 74% of schemes were in deficit with a total deficit of £54.9bn, and 26% were in surplus with a total surplus of £55.1bn.
The 2007 sample was estimated to have been in s179 surplus of £52.bn as at 30 March, compared with a surplus of £0.2bn as at 31 March 2006, the weighted average funding ratio improving from 100% to 108%.
The Purple Book also contained new information about the number and size of claims on the PPF, a breakdown of levy payments made by eligible schemes and the number of people benefiting from PPF protection.
Partha Dasgupta, PPF chief executive, said: "This year's Purple Book highlights that a significant proportion of the long-term risk facing the PPF is related to large, currently stable businesses, and that is why we have recently announced our intention to work with industry to develop the pension protection levy based on a better understanding and management of long-term risk."
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.