JLT's monthly fund index update for the month of January 2017

02 February 2017

JLT Employee Benefits (JLT) has updated its monthly index, showing the funding position of all UK private sector defined benefit (DB) pension schemes under the standard accounting measure (IAS19) used in company reports and accounts.

As at 31 January 2017, JLT estimates the total DB pension scheme funding position as follows:

At 31 January 2017

Assets

Liabilities

Surplus / (Deficit)

Funding Level

FTSE 100 Companies

£640bn

£732bn

(£92bn)

87%

FTSE 350 Companies

£726bn

£834bn

(£108bn)

87%

All UK Private Sector Pension Schemes

£1,529bn

£1,792bn

(£263bn)

85%

For comparison, the corresponding figures as at 31 January 2016 are as follows:

At 31 January 2016

Assets

Liabilities

Surplus / (Deficit)

Funding Level

FTSE 100 Companies

£555bn

£595bn

(£40bn)

93%

FTSE 350 Companies

£634bn

£682bn

(£48bn)

93%

All UK Private Sector Pension Schemes

£1,315bn

£1,455bn

(£140bn)

90%

Charles Cowling, Director, JLT Employee Benefits, comments: 

“Markets are showing resilience amidst global political turmoil. As a result pension deficits have fallen back, although they are still at challenging levels for many companies. Yet, the prospect of further political turmoil in 2017 de-stabilising markets is still tangible.

“It is apparent that an increasing number of companies and trustees have been taking steps to de-risk pension investment strategies, which has proved beneficial. In this climate of market uncertainty, they should stay on top of asset and liability management.”

- ENDS -

Notes to Editor

Enquiries:

JLT Employee Benefits

Corinne Gladstone, PR Manager| T: +44 (0)20 7895 7705| E: corinne_gladstone@jltgroup.com

Smithfield Consultants:

Julia Cooke | T: +44 (0)20 7903 0631| E: jcooke@smithfieldgroup.com 

About JLT Employee Benefits

JLT Employee Benefits is one of the UK's leading employee benefit providers offering a wide range of benefit and pension services, including administration, actuarial and pension consultancy, investment, Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs) administration, flexible benefits, healthcare, benefit communication and financial education.

JLT Employee Benefits employs over 2,200 professionals throughout the UK and in 2013 had revenues of £172m in UK & Ireland.

Pensions and employee benefits companies within the JLT Employee Benefits group of companies include: JLT Benefit Solutions Ltd, Profund Solutions Limited, JLT Wealth Management Limited, JLT Investment Management Limited and Independent Trustee Services Limited. JLT Employee Benefits is part of Jardine Lloyd Thompson Group plc.

www.jltemployeebenefits.com

About Jardine Lloyd Thompson Group plc

Jardine Lloyd Thompson is one of the world's largest providers of insurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.

JLT is quoted on the London Stock Exchange and owns offices in 41 territories with some 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.

www.jlt.com


contact Charles Cowling
Director charles_cowling@jltgroup.com 0161 242 5388