For many people, their first contact with us will be via this website. By using the World Wide Web Consortium (W3C) accessibility guidelines, we�re trying to make our website as open and accessible as possible. This accessibility statement applies to the PPF. This website is run by the PPF. We want as many people as possible to be able to use this website. That means you should be able to:
Today, the Work and Pensions Select Committee (WPSC) published the response by the Department for Work and Pensions (DWP) to their report on defined benefit pension schemes.
Today, the Department for Work and Pensions have published their response to the 'Options for Defined Benefit schemes' consultation which ran last year.
The circumstances in which commutation is possible are set out in Regulation 19 of the Pension Protection Fund (Compensation) Regulations 2005 and Regulation 21 sets out how this option may be exercised.
Paragraphs 26 and 27 of Schedule 7 of the Pensions Act 2004 set out the circumstances in which the compensation cap applies and how and when it should be increased. In July 2021 the Court of Appeal ruled the PPF compensation cap was unlawful on the grounds of age discrimination, so we’re no longer applying it and we’re removing it from affected PPF pensioners. The information below is provided for advisers who still need to refer to previous calculation tables and factors.
In all cases, the early retirement factor is applied to the compensation before the compensation cap is applied. Simply follow the links to the tables of early retirement factors detailed below:
If you need to access late retirement factors that were used in the past, simply follow the links to the appropriate tables, detailed below.
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