Fourth Purple Book published, covering 97% of eligible schemesPurple 2009 provides analysis of how schemes fared during recessionPublication provides important information on trends in DB schemesInvaluable in assessing risk to the PPF
In-depth analysis of how the UK’s defined benefit pension schemes fared during the economic turbulence experienced in 2008/09 was jointly published today (Tuesday) by the Pension Protection Fund (PPF) and the Pensions Regulator (the regulator).
The Purple Book 2009 – the fourth to be published – uses information relating to 97% of the defined benefit schemes eligible for PPF compensation (6,885 schemes, representing some 12 million defined benefit pensions ) and 99% of their estimated total liabilities.
Much of the analysis in the Purple Book 2009 is based on new information contained in the returns which schemes provided to the regulator by the end of March 2009. These returns contain details about such things as scheme valuation, asset allocation and membership.
“This year’s Purple Book highlights how the dramatic deterioration in the economic and financial environment during 2008/09, not just for the UK but for most major economies, led to heightened risk for the schemes in the PPF universe, says Alan Rubenstein, PPF chief executive. “The Purple Book continues to provide important information on trends in defined benefit pension schemes illustrating the risk these schemes pose to the PPF, in terms of underfunding levels and the likelihood of claims on us.”
D.C.