We're delighted that the Financial Reporting Council (FRC) has confirmed we've continued to meet the standard of reporting required to remain as a signatory to the UK Stewardship Code for a fourth consecutive year.
The Pension Protection Fund (PPF) has today welcomed the announcement by the Department for Work and Pensions (DWP) that the government will consider giving the PPF more flexibility to reduce its levy, thus supporting DB schemes and their sponsoring employers to drive growth.
Today we’ve announced that our levy estimate for 2025/26 will be reduced and included a new provision in our rules to allow our Board to review its approach if sufficient progress can be made on the changes needed to give us greater flexibility on setting the levy.
We’re proud to report an increase in the number of women in our senior management roles and to have achieved 48% female representation at senior management level.
We’ve made improvements to our bereavement process to give our members more peace of mind and reduce the burden on loved ones when a member passes away.
Following positive engagement with stakeholders as part of their consultation on the 2025/26 levy rules the PPF will conclude its decision making in January.
The Pension Protection Fund (PPF) has today published the Purple Book 2024 which shows the strong net funding position of the universe of defined benefit (DB) pension schemes has remained largely stable over the past year.
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