30.10.2024
The Pension Protection Fund has today issued a new version of the section 179 valuation guidance. The new guidance takes account of the regulations which came into force on 24th February 2018 in relation to step-down pensions. This new version of the guidance should be used for valuations with an effective date on or after 6 April 2018. New factors have also been issued to convert step-down pensions to be converted to a lifetime equivalent pension so that they can be compared against the compensation cap. We do not propose making any changes to the S143 guidance at the current time.
