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.
As the Brexit transition period nears its end on the 31 December 2020, we're keen to make sure our regular payments to our members living in the EU continue uninterrupted.
I’m delighted to announce that Rodney Norman, Nailesh Rambhai and Anna Troup are joining our Board, bringing a broad range of highly relevant knowledge and experience.
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