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Compensation cap factors valid for previous periods

Paragraphs 26 and 27 of Schedule 7 of the Pensions Act 2004 set out the circumstances in which the compensation cap applies and how and when it should be increased. In July 2021 the Court of Appeal ruled the PPF compensation cap was unlawful on the grounds of age discrimination, so we’re no longer applying it and we’re removing it from affected PPF pensioners.  The information below is provided for advisers who still need to refer to previous calculation tables and factors.

Doing business with us

We use public sector framework agreements where appropriate to�source our�goods and services. How we manage the tender process We use our sourcing portal to advertise opportunities and to manage tender and quotation processes.

Our four sustainability goals

Making a difference through four sustainability goals.

First Diversity Pay Gap report published

The PPF’s publication of its ethnicity figures makes it one of the first organisations in the pensions industry to announce the difference in the hourly rates of pay and bonus pay between white ethnic minority employees. 

PPF consults on 2026/27 PPF levy

The Pension Protection Fund (PPF) has today announced that it will not charge a conventional PPF levy this year (2025/26). The move will benefit c.5,000 defined benefit (DB) schemes in the UK, saving them and their sponsoring employers collectively £45m.

Frequently asked questions

Answers to frequently asked questions about who we are, how we're funded and what we do.

An explanation of pension valuations

Explanations of the main calculations we use for pension valuations, in line with sections of The Pensions Act 2004.

Investing in sustainable property

Leveraging existing positions and manager relationships to optimise future investment exposure is a key part of our portfolio management process.

Valuation guidance for previous periods

Below is a list of historical effective dates with links to the correct guidance (G and H) and relevant assumptions (A and B). The effective dates relate to the time when the assets and liabilities of the scheme were calculated. To find the period of guidance that you’re looking for, simply click on the links attached to the dates. Please note that all dates are inclusive.

Applying for a levy waiver

In limited circumstances, the Board can waive the levy. Find out more about levy waivers and how to apply for one here.