Tuesday, 02, Dec 2008 04:07
The Pension Protection Fund became operational on 6 April 2005. Run by an independent Board, it has been designed to pay compensation to members of eligible defined benefit schemes, when there is a qualifying insolvency event in relation to the employer and where there are insufficient assets in the pension scheme to cover Pension Protection Fund levels of compensation.
www.pensionprotectionfund.org.uk
The Pension Protection Fund (PPF) today (Thursday) confirmed that it has set a pension protection levy estimate of £700 million for 2009/10.
The Pension Protection Fund (PPF) today (Tuesday) unveiled proposals which make the pension protection levy paid by eligible pension schemes more tailored than ever before to the individual risk those schemes pose to the PPF.
The PPF took five more schemes under its wing last month (October), resulting in a further 1,313 people around the UK now receiving compensation – or will do so in the future.
We have updated the PPF 7800 Index page to show the state of defined benefit pension scheme funding as at the end of October.