We protect people across the United Kingdom who are members of 'defined benefit' pension schemes, often known as final salary schemes. We make sure members are looked after if the employer funding their pension becomes insolvent.
As well as being responsible for the Pension Protection Fund (PPF), we are also responsible for the Fraud Compensation Fund (FCF) and we run the Financial Assistance Scheme (FAS) on behalf of the Government.
The Financial Assistance Scheme (FAS) provides financial assistance to people who were members of certain DB pension schemes which are ineligible for compensation from the PPF – in particular, those schemes that began winding up between January 1997 and April 2005. FAS is funded by HM Treasury rather than a levy.
To me, the PPF means security. The PPF has provided me with the confidence that a comprehensive assessment of my pension plan is being undertaken and that members will be protected to a certain defined level.
Winners of the UK Pension Fund of the Year - IPE Awards 2023
Winners of the Pensions Administration Team of the Year Award - Pensions Age Awards 2023
Shortlisted for the Team of Year Award - The Pensions Management Institute Pinnacle Awards 2023
