Last November a court ruling clarified that occupational pension schemes set up as part of a scam were eligible to claim on the Fraud Compensation Fund (FCF). This is excellent news for the victims of these scams.
This year’s National Apprenticeship Week will take place from 8 - 14 February. The annual week-long celebration of apprenticeships will shine a light on the amazing work being done by employers and apprentices across the country.
It’s not always the case that when a pension scheme’s sponsoring employer fails, and the scheme enters PPF assessment, it ends up transferring into the PPF. If the scheme has enough assets to buy higher benefits for its members than we would pay, it’ll buy out benefits outside of the PPF.
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 take into account external influences, such as movements in financial markets and changes to life expectancy.
By achieving the goals set out in our last strategic plan, we’ve built strong foundations to protect our members going forward. Our 2022-25 Strategic Plan sets out our priorities for the next three years. We've also published our new Business Plan for 2022/23.
The Department for Work and Pensions (DWP) has launched a consultation on a proposed regulation which will allow dependent child survivors of our members to take a gap year from full time education.
The Department for Work and Pensions today published their policy paper, ‘Protecting defined benefit pension schemes’. This follows the Green Paper from February 2017, 'Security and Sustainability in Defined Benefit Pension Schemes'.
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