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Founded as part of the Pensions Act in 2004, we officially began life in 2005

2005

We opened our doors and received MG Rover as our first major claim.

2006

The first scheme transferred to us and payments were made to members.

We published our 1st Purple Book jointly with TPR.

2007

Our first 7800 Index Update was published as an official statistic.

2008

Our assets reached over £1bn (£1.45bn AUM at end of March 2008).

2009

We took on management of the Financial Assistance Scheme on behalf of DWP. 

2010

We moved into a funding surplus with a reserve of £400m. 

We launched our long-term funding strategy. 

2011

Our first panel was established to transfer schemes more efficiently. 

2012

Over 100,000 members transferred to us. 

The UK Coal Pension Scheme transferred to us as part of a restructure that saves 2,000 jobs.

We transferred our 500th scheme (Bland, Burgess & Heathershaw Ltd).  

2013

We became a founding investor for the launch of the Pension Investment Platform (PIP). 

2014

We started to bring our Member Services function in-house. 

2015

We began insourcing more of our investment operations.  

2016

We begin bringing the Financial Assistance Scheme in-house.

The BHS pension schemes come into assessment.

We transferred our 1000th scheme into FAS. 

2017

We paid out over £1bn in FAS compensation.

2018

We were awarded ServiceMark accreditation for our customer service for the first time. 

Carillion, Hoover and Toys ‘R’ Us all entered PPF assessment. 

  

2019

Our SME Levy Forum met for first time. 

Over a quarter of a million members transferred to us.  

We launched a digital transformation of our IT services. 

2020

Our PPF Member Forum met for the first time. 

2021

PPF benefits paid annually surpassed £1bn. 

Investment returns surpass levy as proportion of our funding. 

2023

We halved the levy to £200m (from c£400m previous year). 

2024

We were awarded the Institute of Customer Service's ServiceMark accreditation with Distinction.   

We concluded our Hampshire / uncapping calculations and (where possible) payments.  

2025

We set our lowest ever levy (£45m) and DWP confirmed it would consider the changes we need to further reduce the levy.