It's our duty to protect people with a defined benefit pension when an employer becomes insolvent. We manage £31 billion of assets for our 289,000 members.
In November 2025, the government announced that it intended to change the law to enable the payment of inflation increases – also known as indexation – on pension benefits accrued before April 1997, for PPF and Financial Assistance Scheme (FAS) members.
We've published answers to the most frequently asked questions that we've received on pre-97 indexation.
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