Alan Rubenstein, Chief Executive, Pension Protection Fund (PPF) said “This settlement for the BHS pension schemes, agreed between Sir Philip, the Pensions Regulator and the trustees, with the involvement of the PPF relieves the PPF’s levy payers of the cost of meeting the initially reported shortfall.
Dana Grey, who has been acting as interim Risk Director since October 2021, has been appointed to the CRO role permanently, leading both the Risk and Compliance teams.
For the second year, we’ve combined our ethnicity pay gap and our gender pay figures to produce a diversity pay gap report. By doing so, we hold ourselves accountable for the targets we set ourselves each year to achieve race and gender equality.
We understand this is a very difficult time but if you're a member of a Thomas Cook defined benefit pension scheme you can be assured that your pension is protected by us
Since our last update in December new court proceedings have started against us, seeking to challenge, among other things, our intended approach for calculating any increases due to our members as a result of the ruling.
The first PPF SME Forum, which took place at the end of February, saw representatives from DB schemes of small and medium-sized enterprises (SMEs), their advisers, representative bodies and the PPF gather together to discuss a range of topics from good customer service to measuring insolvency risk.
In our Long-Term Funding Strategy review, published today, we’ve set out a revised funding objective and new priorities. As we enter a new stage of our funding journey, we’re now able to reduce the total amount of levy we charge without risking the long-term security of our members’ benefits.
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