Funding has improved across both the fully hedged and 50 per cent hedged DB pension schemes, according to the Broadstone Sirius Index.
According to the index, the funding level of the fully hedged scheme increased from 71.6 per cent at the end of December 2025 to 71.8 per cent at the end of January 2026.
Funding gains for the 50 per cent hedged scheme also made further progress, rising from 108.4 per cent at the end of December 2025 to 108.9 per cent at the end of January 2026, moving ever closer to the record high of 110.5 per cent seen in October 2025.
Broadstone head of policy David Brooks says: “After a year of strong funding tailwinds, it’s encouraging to see schemes holding onto that momentum as 2026 begins. For many trustee boards preparing for valuations under a new regime, a steady funding backdrop will come as welcome relief.
“When volatility settles down, trustees can shift their attention from firefighting to the broader agenda – connecting to dashboards, strengthening governance through the ORAs, which will be prepared throughout the year, and ensuring scheme data is genuinely fit for the future.
“If 2025 was about recovery, 2026 is shaping up to be the year trustees get the breathing space to focus on long term improvement and setting the strategy to buyout or run-on.”