Purple Book meaning

In practice, “Purple Book” refers to the annual statistical overview of UK defined benefit (DB) pension schemes produced jointly by the Pension Protection Fund (PPF) and The Pensions Regulator (TPR). It aggregates data from scheme returns to TPR, PPF levy and section 179 valuation submissions, and related filings to produce the DB Pensions Universe Risk Profile. The term is not defined in legislation or case law; it is widely used industry shorthand. Pensions lawyers, trustees, employers and insolvency practitioners use the Purple Book to benchmark funding levels and deficits, liability and membership profiles, investment allocation and risk, employer covenant exposure, and indicators relevant to PPF eligibility and levy estimation. It is frequently cited in scheme funding negotiations, covenant assessments, restructuring and insolvency planning, and risk management. It complements, but is distinct from, the monthly PPF 7800 Index. Usage is consistent across England & Wales, Scotland and Northern Ireland. It does not apply to schemes in Ireland (Republic of Ireland), which are regulated by the Pensions Authority; Irish practice relies on local regulatory statistics and scheme-specific actuarial data. The Purple Book provides sector-wide context and trend analysis; it is informative only and does not create legal obligations or determine scheme-specific funding requirements.