Today we’ve published our 2019/20 annual report and accounts outlining how we performed over the last year. For the first time, we’ve published an online version to make it more accessible.
The Court of Justice of the European Union (CJEU) has today ruled that individual members should receive at least 50 per cent of the value of their accrued old age pension in the event of employer insolvency.
The Administrative Court’s judgment in June 2020 upheld our general approach to calculating increases in compensation as a result of the Hampshire ruling. But it also said we need to make sure members and survivors each receive at least 50% on a cumulative basis of the actual value of the benefits their scheme would have provided.
The first group of PPF members who we’ve assessed as most significantly affected by the European Court of Justice’s ruling have from today started receiving increased benefits. These members have had their benefits adjusted by the long service cap (LSC).
You need to allow cookies to view this video. Click the below link to manage your cookie settings and select "Targeting Cookies" on the left hand side.
