What we do

We protect people's pensions

We protect people across the United Kingdom who are members of 'defined benefit' pension schemes, often known as final salary schemes. We make sure members are looked after if the employer funding their pension becomes insolvent.

As well as being responsible for the Pension Protection Fund (PPF), we are also responsible for the Fraud Compensation Fund (FCF) and we run the Financial Assistance Scheme (FAS) on behalf of the Government.

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Founded in 2005

We were set up in 2005 by the Pensions Act 2004, and we’re run by an independent Board. We report to Parliament through the Secretary of State for Work and Pensions. As a public corporation, we report to Parliament through the Secretary of State for Work and Pensions.

8.9 million people protected

8.9 million people across the United Kingdom are members of 'defined benefit' pension schemes. If the employer funding one of these pension schemes becomes insolvent, the scheme will enter an assessment period with us. If the scheme can't provide at least the same level of compensation that we can, it transfers to us.

292,000 PPF members

Over 292,000 people already receive benefit payments from us. This is because the employer who funded their pension scheme became insolvent and there wasn't enough money to secure the current and future payments for its members.

139,000 FAS members

The Financial Assistance Scheme (FAS) provides financial assistance to people who were members of certain DB pension schemes which are ineligible for compensation from the PPF – in particular, those schemes that began winding up between January 1997 and April 2005. FAS is funded by HM Treasury rather than a levy.

To me, the PPF means security. The PPF has provided me with the confidence that a comprehensive assessment of my pension plan is being undertaken and that members will be protected to a certain defined level.

Jackie

Member of a scheme in PPF assessment, Bedfordshire

PPF Member on laptop with dog in background

Recent awards

Shortlisted in the Sustainable Customer Service category at the ICS Customer Satisfaction Awards 2025

Shortlisted in the Pensions Administration and the Diversity categories at the Pensions Age Awards 2025

Winner of LP category for Excellence in ESG at the BVCA Excellence in ESG Awards 2024

Winner of the Fixed Income category at the IPE Awards 2024

Highly commended for the Team of Year Award at the Pensions Management Institute Pinnacle Awards 2024