Press releases

PPF confirms Richard Beaven as Acting Chief Executive following the departure of Michelle Ostermann

The Pension Protection Fund (PPF) has today announced that Michelle Ostermann has stepped down as Chief Executive after two years with the organisation. Richard Beaven, currently Chief Operating Officer has been appointed Acting Chief Executive with immediate effect and has been appointed to the PPF Board as Executive Director. 

PPF confirms zero levy for 2026/27

The Pension Protection Fund (PPF) has today announced it will set a zero levy for next year (2026-27) for the c.5,000 conventional defined benefit (DB) schemes it protects. The decision marks the second consecutive year that conventional schemes will not be charged a PPF levy.  

PPF publishes 20th edition of The Purple Book

The Pension Protection Fund (PPF) has today published The Purple Book 2025, the 20th edition of its comprehensive analysis of the UK’s defined benefit (DB) pension landscape. This year’s publication shows aggregate DB funding levels remain strong.

PPF statement on pre-97 indexation Budget announcement

The Pension Protection Fund (PPF) has welcomed the government’s announcement that it intends to change the law to enable the payment of inflation increases on pre-97 pensions to PPF and Financial Assistance Scheme (FAS) members.

Pension Protection Fund announces the appointment of David Sproul to its Board

The Pension Protection Fund (PPF) is pleased to announce the appointment of David Sproul to its Board, with effect from 1 December 2025.

PPF consults on 2026/27 PPF levy

The Pension Protection Fund (PPF) has today announced that it will not charge a conventional PPF levy this year (2025/26). The move will benefit c.5,000 defined benefit (DB) schemes in the UK, saving them and their sponsoring employers collectively £45m.

The Pension Protection Fund (PPF) announces the publication of its first Sustainability Report

The Pension Protection Fund (PPF) is delighted today to share its first Sustainability Report, bringing together our responsible investment, climate change and operational sustainability actions into a single publication.

PPF confirms zero levy for 2025/26

The Pension Protection Fund (PPF) has today announced that it will not charge a conventional PPF levy this year (2025/26). The move will benefit c.5,000 defined benefit (DB) schemes in the UK, saving them and their sponsoring employers collectively £45m.

PPF marks 20 years of protection and achievement in its 2024/25 Annual Report

The Pension Protection Fund (PPF) has today published its 2024/25 Annual Report and Accounts, marking its 20th anniversary with a year of strong financial performance, continued customer service excellence, and enduring commitment to serving its members, levy payers, and the wider pensions industry.

PPF launches expanded Diversity, Equity and Inclusion (DEI) Strategy to build on five years of progress

The Pension Protection Fund (PPF) has today published its new Diversity, Equity and Inclusion (DEI) Strategy for 2025-2028.

PPF launches next three-year Strategy as it marks 20 years of protecting DB pensions

The Pension Protection Fund (PPF) has set out its key strategic priorities in its Strategy for the next three years (2025-28) in the same week as it marks its 20th anniversary.  

PPF reports further progress against its diversity targets in latest Diversity Pay Gap published today

The Pension Protection Fund (PPF) has today released its eighth Diversity Pay Gap report, restating its commitment to fostering an inclusive workplace and continuing to make significant improvements to the diversity of its senior management.