A line graph showing the quarterly values of the ABI and the VBI of the DBD between 1992 and 2020.
The values of both the ABI and the VBI fluctuated well above and below 100%, reflecting movements in investment markets as well as benefit changes or improvements of the DBD.
Noticeably, the VBI has fallen below 100% during financial crises such as the ‘dot com’ dip in 2001-2002 and the global financial crisis in 2008 but has recovered to a healthy position on every occasion. As at 31 December 2019, the ABI and the VBI are over 135% and 125% respectively.
About the graph
This graph shows the VBI and ABI over a longer period. Over a longer period, the VBI and the ABI fluctuated in line with a number of factors, including:
Movements in investment markets
Benefit changes or improvements
Salary and price growth
Revised actuarial assumptions, including expected life expectancies of our pensioners.