In 2018, the European Court of Justice�ruled that individual members should receive at least 50 per cent of the value of their accrued old age pension if the employer�responsible for funding�the scheme they�ve paid into fails. The vast majority of PPF and Financial Assistance Scheme (FAS) members already receive compensation in excess of 50 per cent of their accrued old age benefits. This means the number of members affected by this ruling is very small.
It's our duty to protect people with a defined benefit pension when an employer becomes insolvent. We manage £32 billion of assets for our 292,000 members.
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