Actuarial Optimism and the Cash Test: A Pension Durability League Table for 2026
Aggregate defined-benefit surpluses have become a fixture of UK corporate reporting, yet the headline number says little about what a board can actually do with it. This league table grades the 2026 Top 100 not on the size of their scheme surpluses but on their durability — and separates genuine capital cushions from assumptions that flatter.