The Pension Protection Fund (PPF) has completed the selection process for its new Specialist Administration and Actuarial Services Panel (SAASP). The new panel comprises four firms which will provide both administrative and actuarial services during the PPF assessment period, replacing the previous model of two separate panels. The new panel will also bring consistency to administration services inclusive of payroll and member services.
Sara, who was recently appointed to the PPF Board and is the Chief Customer Officer, has been appointed an Officer of the Order of the British Empire (OBE) for services to pensioners.
The aggregate deficit of the 5,450 schemes in the PPF 7800 Index is estimated to have decreased over the month to £6.4 billion at the end of April 2019, from a deficit of £43.9 billion at the end of March 2019.
In the thirteenth edition of the Purple Book, the Pension Protection Fund (PPF) points to significant risk in the defined benefit (DB) pension universe.
At 31 March 2018 the PPF’s median gender pay gap stood at 17.2 per cent, a drop of three percentage points from last year (20.4 per cent in 2017). The mean pay gap is 23.67 per cent (24.97 per cent in 2017); the organisation’s median bonus gap is 30.55 per cent (24.11 per cent in 2017) and the mean bonus gap is 59.12 per cent (64.26 per cent in 2017). This is the PPF’s second year of reporting.
Despite significant market volatility, the PPF's investment return in the year to 31 March 2019 was 5.2 per cent and its assets under management grew from £30 billion to £32 billion.
The Pension Protection Fund (PPF) is seeking to procure actuarial services to equalise guaranteed minimum pensions for members and the application of a Statutory Minimum.
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