We protect the +£1tr defined benefit universe, acting as the backstop for 9 million pension scheme members in the UK.
We’re proud to have provided financial security for our members, supported schemes and corporate sponsors by reducing the levy, become a trusted partner for government, and fostered a diverse, inclusive and empowering workplace which gives back to our local community.
8.9 m
members we protect
£ 32 bn
Assets under management
430000 +
PPF and FAS members
2000 +
schemes consolidated
Celebrating 20 years of evolution
Back in 2005, some predicted we’d fail. Since then, we’ve overcome numerous challenges to grow into a major UK financial institution, managing over £32 billion in assets, and becoming an organisation with a reputation for outstanding customer service and strong financial management.
Over time, we’ve grown our responsibilities and specialist capabilities, including managing the Financial Assistance Scheme since 2009. As a successful consolidator, we’ve transferred over 2,000 schemes, including those formerly sponsored by MG Rover, Woolworths, Carillion, Kodak, Toys R Us, Bhs and HMV.
“I’m so proud of where the PPF is today and what it has achieved over the last 20 years. I long admired it as an organisation before I became CEO last year, as a world-class scheme making a huge difference to the lives of many people. As one of only a handful of similar organisations worldwide, we play a vital role in the UK and global pensions sector – not only drawing on best practice but actively contributing to it.”
Michelle Ostermann, Chief Executive Officer
Celebrating 20 years of excellence
Our members have always been at the heart of what we do. We’re proud to provide excellent customer service, achieving consistently high levels of member satisfaction. This has been recognised through achieving the Institute of Customer Service’s ServiceMark accreditation with Distinction.
Our investment operations are also best-in-class. Despite a low risk appetite we’ve delivered consistently strong investment performance, with returns that are at least a match for the performance of comparable funds.
Over time, we’ve taken on more control of our investments – we now manage most of our assets in-house. Our award-winning investment team take investment decisions within a framework which considers Environmental Social and Governance (ESG) risks. As a responsible investor, we look to enhance the value of our investments and use our influence to encourage positive change.
"Having played a pivotal part in the campaign that helped create the PPF, it is heartening to see how many people have received so much of their promised pensions in the past 20 years. Before it was set up, workers just days away from retirement, faced losing all their company pension and even their private pension in their employer’s scheme when their employer went bust. The PPF has been run very successfully and protects millions of DB scheme members."
Baroness Altmann CBE, Minister for Pensions (2015 -2016)
Celebrating 20 years of trust
Today, we stand in a robust financial position, having built our financial resilience and strength over time. As our scale and investment returns have grown, our reliance on the levy has reduced. Contributions from levy payers have been vital, however, we’ve now reached a critical milestone whereby we no longer need to charge a material levy to meet our funding goals. We’re now focused on maintaining, rather than building, our financial position.
We’ve worked hard to cultivate an inclusive and collaborative workplace where employees feel valued and empowered to deliver, for our customers and society. We believe fostering a diverse workforce isn’t just the right thing to do but improves our performance and is critical to attracting and retaining the talent we need.
Delivering for our existing stakeholders, members and levy payers, remains our top priority. We have the skills, unique capabilities, and track record to do more for further public benefit without affecting the continued successful delivery of our existing functions.
