The Pension Protection Fund has today published its consultation document on its proposed levy rule for schemes without a substantive sponsor, for inclusion in the 2017/18 Levy Determination.
The Pension Protection Fund (PPF) announces today the departure of Oliver Morley, Chief Executive, who will be leaving in December 2023 to take up a new role as the Chief Executive of The Money and Pensions Service (MaPS).
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.
In May 2021, we announced that we had retained our ServiceMark customer service accreditation. To maintain our high levels of service, we're sending out a survey to members and staff today to find out more about their experiences.
We work with scheme trustees and their advisors when a sponsoring employer is in financial distress or facing a major change or ‘event’ – such as a restructuring arrangement or potential insolvency – which might trigger the entry of an eligible scheme into PPF assessment.
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