The Pension Protection Fund has today issued a new version of the section 179 valuation guidance. The new guidance takes account of the regulations which came into force on 24th February 2018 in relation to step-down pensions. This new version of the guidance should be used for valuations with an effective date on or after 6 April 2018. New factors have also been issued to convert step-down pensions to be converted to a lifetime equivalent pension so that they can be compared against the compensation cap. We do not propose making any changes to the S143 guidance at the current time.
29.03.2018 By Media team