The aggregate surplus of DB pension schemes climbed to £265.6bn at the end of January, according to the latest Pension Protection Fund (PPF) 7800 Index.

The Pension Protection Fund (PPF) decision to reduce the amount it will levy on defined benefit pension schemes from £100m to £45m, has been welcomed by the Pensions and Lifetime Savings Association (PLSA).

The aggregate surplus of DB pension schemes increased to £485.1bn at the end of October, according to the latest Pension Protection Fund (PPF) 7800 Index.