• Momentum Global Investment Management flagged UK defined-benefit pension schemes at record funding levels, with average buyout funding near 96% in 2025.
• Equity exposure fell to about 15%-20% by the early 2020s from roughly 60% around the global financial crisis as schemes shifted toward bonds.
• Higher gilt yields drove much of the post-2020 funding improvement by reducing liability values.
• About 34% of schemes sit in surplus on a buyout basis, sharpening the choice between insurance buyout or running on to generate surplus.
• Regulatory change under the Pension Schemes Act 2026 could accelerate interest in surplus extraction, with PwC data showing broad consideration of distributions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Momentum Global Investment Management Ltd. published the original content used to generate this news brief on July 06, 2026, and is solely responsible for the information contained therein.