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.
Each year we update our actuarial factors to make sure they’re actuarially equivalent, so the cost to us of providing each member's compensation is the same regardless of the choices they make.
We will take part in restructuring if it means the return from the employer will be better than if the business had been simply left to fail. It usually involves removing the pension debt from the company, allowing it to continue to trade with a positive cash flow and potentially make a profit.
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