In 2018, the Court of Justice of the European Union (ECJ or CJEU) ruled in the Hampshire case that individual members of pension schemes should receive at least 50 per cent of the value of their accrued pension benefits in the event of employer insolvency. In May 2020 the Administrative Court heard a challenge brought against us by a number of members to the way we�re implementing the ECJ�s Hampshire ruling, and to the lawfulness of the PPF compensation cap.�
In 2018, the European Court of Justice�ruled that individual members should receive at least 50 per cent of the value of their accrued old age pension if the employer�responsible for funding�the scheme they�ve paid into fails. The vast majority of PPF and Financial Assistance Scheme (FAS) members already receive compensation in excess of 50 per cent of their accrued old age benefits. This means the number of members affected by this ruling is very small.
We’ve published our Annual Report and Accounts 2022/23, which looks back at our achievements and challenges over the last financial year, outlines our financial performance and describes our progress against our strategic objectives.
The Pension Protection Fund has today published its 2022-23 Annual Report and Accounts highlighting significant progress against its 2022-25 Strategic Plan.
We consider climate change to be a systemic risk, which can affect the value of our investments across the short, medium and long term.
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