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The insolvency practitioner's role in the assessment process

The assessment period starts with a qualifying insolvency event. You must file notice of the insolvency – an S120 notice – within 14 days of your appointment or of becoming aware of the existence of the pension scheme. Without that, it’s not possible to make a start on the work that needs to be completed during the assessment period. By law, we exercise the trustees’ rights against the employer during the assessment period. So we need to know about the insolvency as soon as possible.

Restructuring guidance

We will take part in restructuring if it means the return from the employer will be better than if the business had been simply left to fail. It usually involves removing the pension debt from the company, allowing it to continue to trade with a positive cash flow and potentially make a profit.

PPF confirms zero levy for 2025/26

The Pension Protection Fund (PPF) has today announced that it will not charge a conventional PPF levy this year (2025/26). The move will benefit c.5,000 defined benefit (DB) schemes in the UK, saving them and their sponsoring employers collectively £45m.

Accessibility statement for the PPF

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:

We're not charging a PPF levy for 2025/26

We're not charging a PPF levy for 2025/26, marking a significant milestone in our journey to financial self-sufficiency.

The role of trustees during assessment

The role and responsibilities of panel trustees include:

Practical tips to help trustees manage risk

Running a pension scheme can be complex and challenging. This is particularly true where the employer is in difficulty. It's important that as a trustee, you understand the sorts of challenges you’ll face when there’s an increased risk of your employer going bust. So we've published a new guide, Contingency planning for employer insolvency, to help you.