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PPF Annual Report 2025/26 shows delivery progress

The Pension Protection Fund (PPF) today published its 2025/26 Annual Report and Accounts detailing its success in delivering against its strategic priorities and business plan objectives over the past year.

Our year in review: 2025/26

We’ve published our Annual Report and Accounts 2025/26, highlighting a year of strong delivery for our members, continued financial resilience and and major progress in implementing legislative changes.  

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It's our duty to protect people with a defined benefit pension when an employer becomes insolvent. We look after £31 billion of assets and over 400,000 members across PPF and FAS. 

Annual Report 2025/26

Our Annual Report looks back at our achievements and challenges over the last financial year, outlining our financial performance and describing our progress against our strategic objectives..

PPF launches consultation on updated valuation assumptions to reflect bulk annuity market developments

The Pension Protection Fund (PPF) has today launched a consultation on proposed changes to the assumptions used for valuations under sections 143 and 179 of the Pensions Act 2004.

Schemes that are eligible for pre-97 inflation increases

This page lists PPF and FAS schemes that will be eligible to receive inflation increases on pre-97 benefits due to legislation in the Pension Schemes Act.

Information on pre-97 indexation

On this page, you'll find information and answers to the most frequently asked questions on pre-97 indexation. 

Our contribution to the UK real economy

Find out more about how our investment strategy contributes to the real economy here in the UK. 

Modern slavery and human trafficking

The Modern Slavery Act came into effect in March 2015. As one way of tackling the problem of modern slavery, the act requires that all commercial organisations, with a turnover of more than 36 million, provide an annual slavery and human trafficking statement. Modern Slavery Statement 2022 Our statement, as required by law, sets out the steps we're taking to make sure that this doesn't happen.