Since our last update in December new court proceedings have started against us, seeking to challenge, among other things, our intended approach for calculating any increases due to our members as a result of the ruling.
The first PPF SME Forum, which took place at the end of February, saw representatives from DB schemes of small and medium-sized enterprises (SMEs), their advisers, representative bodies and the PPF gather together to discuss a range of topics from good customer service to measuring insolvency risk.
The Purple Book is vital for helping us understand the risks we face as an organisation with obligations to our members, in an environment of significant uncertainty.
In our Long-Term Funding Strategy review, published today, we’ve set out a revised funding objective and new priorities. As we enter a new stage of our funding journey, we’re now able to reduce the total amount of levy we charge without risking the long-term security of our members’ benefits.
In July 2021 the Court of Appeal ruled the PPF compensation cap was unlawful on the grounds of age discrimination, so we’re no longer applying it and we’re removing it from affected PPF pensioners. The information below is provided for anyone who still needs to refer to the previous situation.
Today we’ve launched a tender to appoint a new firm to join our Specialist Administration and Actuarial Services Panel (SAASP). This panel provides critical assistance to schemes when they enter the assessment period.
In July 2021 the Court of Appeal ruled the PPF compensation cap was unlawful on the grounds of age discrimination. They supported our approach to increasing payments to PPF and FAS members following the 2018 European Court of Justice judgment in the Hampshire case. We’ve been working on how to implement it.
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.
