The funding position of defined benefit schemes continued to strengthen in January, according to Broadstone.
The latest PPF 7800 Index shows the estimated aggregate funding position of DB schemes surplus of the 4,838 schemes increased by £5.9 billion through January 2026, rising to £265.6 billion in surplus.
Meanwhile, the funding ratio rose by 0.8 percentage points to 131.0 per cent and the number of schemes in surplus rose to 3,847, representing around four in five (79.5 per cent) of all schemes in the universe.
Broadstone senior actuarial director Jaime Norman says: “Pension schemes experienced a steady start to the year, building on the positive momentum generated through 2025. Pension schemes continue to be extremely well-funded with around four in every five schemes sitting on a surplus.
“Looking ahead to the rest of 2026, trustees are in a strong position to consider a widening range of end-game options. The de-risking sector looks set for another strong year with buoyant scheme demand while three significant insurer corporate transactions are set to complete this year.
“It will also be interesting to see whether superfunds can begin to grow their market share or how more schemes explore the option to run on with improved access to surpluses.”