The recent ECJ judgment in the case of PSV v Gunther Bauer has restated that, as a minimum, every individual must receive at least 50% of their accrued benefits.
The Pension Protection Fund (PPF) has today marked the start of its new partnership with Dun & Bradstreet (D&B) by publishing its plans for new services and consulting on its approach to the measurement of insolvency risk from 2021.
This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
We’ve previously announced that we’d started making increased payments to all pensioners who were most affected by the Court of Justice of the European Union’s (ECJ or CJEU) ruling, because they were subject to the PPF compensation cap (either the standard cap, or the long service cap), which on its own had reduced their benefits to less than 50% of those they had accrued.
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