How we’re funded

We make a return on our investments

We follow an investment strategy under the guidance and stewardship of the Board.

We charge a compulsory levy to the eligible pension schemes that we protect

We collect a compulsory levy, much like an insurance premium, from eligible defined benefit pension schemes.

We receive the assets from pension schemes that transfer to us

We accept the assets of schemes that transfer to us. This is part of the scheme assessment process.

We recover assets we secure from insolvent employers

We recover the assets that we can from insolvent employers. This is part of the scheme assessment process.

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FAS and the FCF are funded differently to the PPF

The Financial Assistance Scheme (FAS) is funded by HM Treasury rather than a levy. We run this scheme on behalf of the government. The Fraud Compensation Fraud (FCF) is funded through a separate levy on all eligible occupational defined benefit (DB) and defined contribution (DC) pension schemes.

Find out more about FAS

Find out more about the FCF

How we’re funded

We make a return on our investments

We charge a compulsory levy to the eligible pension schemes that we protect

We receive the assets from pension schemes that transfer to us

We recover assets we secure from insolvent employers

FAS and the FCF are funded differently to the PPF

What we do

Annual Report 2023/24

Investment principles and strategy