The Pension Protection Fund (PPF) has announced the appointment of Simon Gadd and Sonia Gogna to its Board as non-executive directors from 1 September.
The Pension Protection Fund has announced that Lisa McCrory has been appointed as its new Chief Finance Officer (CFO). Lisa will now be responsible for leading the PPF’s actuarial financial management, finance, commercial and internal audit departments and will do this alongside her current role as Chief Actuary.
At 31 March 2018 the PPF’s median gender pay gap stood at 17.2 per cent, a drop of three percentage points from last year (20.4 per cent in 2017). The mean pay gap is 23.67 per cent (24.97 per cent in 2017); the organisation’s median bonus gap is 30.55 per cent (24.11 per cent in 2017) and the mean bonus gap is 59.12 per cent (64.26 per cent in 2017). This is the PPF’s second year of reporting.
This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
A scheme’s 179 liabilities represent, broadly speaking, the premium that would have to be paid to an insurance company to take on the payment of PPF levels of compensation. This compensation may be lower than full scheme benefits.
The Pension Protection Fund announces that Alan Rubenstein has informed the Board that he intends to step down as Chief Executive of the organisation in early 2018.
We're delighted that the Financial Reporting Council (FRC) has confirmed the PPF continues to meet the standard of reporting required to remain as a signatory to the UK Stewardship Code for a third consecutive year.
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