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By the end of January 2021, TPR had received over 1,660 valuations with a valuation date in 2018/19. Almost a third (31%) of schemes reported a surplus on a technical provisions funding basis.
TPR said schemes' improved asset position may have been due to the combined impact of sponsor contributions and positive overall gains on investments in the three years to valuation pushing up assets.
Average annual deficit reduction contributions increased by 8% at the median, while the median extension to the recovery plan end date is one year. The average recovery plan length is now at 5.9 years, with the median at 5 years.