The WTW Pension Index has increased for the third month in a row in December 2025. The combination of small investment returns and decreases in liabilities due to increases in discount rates resulted in a December 31, 2025 index level of 130.0, an increase of 1.9% over the prior month.
About the report
Pension Finance Watch is designed to support our clients in the ongoing financial management of their U.S. retirement plans. The report tracks the value of the WTW Pension Index in a series that was initiated in 1990.
The index reflects the asset/liability performance of a hypothetical benchmark pension plan, and provides an indicator of capital market effects on pension plan financing. Individual plan results will vary based on such factors as portfolio composition, investment management strategy, liability characteristics and contribution policy.
