At the end of March 2013 the PPF had increased its surplus from £1.7 billion.
It said the probability of it being financially self-sufficient by 2030 has increased to 87%, from 84% in March 2012.
At the moment the PPF charges a levy on all of its 6,500 pension schemes. It aims to become solely reliant on its own investments by 2030, so it won't need to charge fees.
PPF chair, Barbara Judge, said: "Our focus during the year was to reassure our members by managing our growth effectively, meeting the continuing challenge of turbulent markets and dealing with claims totalling more than £1 billion, a record for the PPF.
NAPF EU and international policy lead, James Walsh, said: "It is important for pension scheme members to know that the PPF's finances are sound and sustainable, so these latest figures make welcome news.
"Although the PPF is now more confident of hitting its long-term targets, the average levy paid by individual pension schemes is set to increase in the short-term, and this remains a concern. The NAPF remains committed to working with the PPF on keeping the levy affordable."
