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PPF confirms Richard Beaven as Acting Chief Executive following the departure of Michelle Ostermann

The Pension Protection Fund (PPF) has today announced that Michelle Ostermann has stepped down as Chief Executive after two years with the organisation. Richard Beaven, currently Chief Operating Officer has been appointed Acting Chief Executive with immediate effect and has been appointed to the PPF Board as Executive Director.

PPF confirms zero levy for 2026/27

The Pension Protection Fund (PPF) has today announced it will set a zero levy for next year (2026-27) for the c.5,000 conventional defined benefit (DB) schemes it protects. The decision marks the second consecutive year that conventional schemes will not be charged a PPF levy.  

We've confirmed a zero levy for 2026/27

Following our levy consultation, we’ve announced that we won’t charge conventional schemes a PPF levy next year (2026/27).

Information on pre-97 indexation

On this page, you'll find information and answers to the most frequently asked questions on pre-97 indexation. 

We've appointed 10 firms to our new four lot legal panel

We're pleased to announce that we've completed our procurement for legal services and 10 firms have been appointed under our new four lot legal panel structure.

How we invest

We invest to make sure we can pay current and future member's compensation for the rest of their lives. 

Our contribution to the UK real economy

Find out more about how our investment strategy contributes to the real economy here in the UK. 

Preparing for someone else to deal with us on your behalf

Some members may need help from a relative, friend, or carer when dealing with us – either now or in the future. Find out how you can authorise someone to do this through a Letter of Authority, Power of Attorney or by giving verbal authority. 

PPF publishes 20th edition of The Purple Book

The Pension Protection Fund (PPF) has today published The Purple Book 2025, the 20th edition of its comprehensive analysis of the UK’s defined benefit (DB) pension landscape. This year’s publication shows aggregate DB funding levels remain strong.

We've published The Purple Book 2025

We’ve published The Purple Book 2025, the most comprehensive data and analysis of the UK defined benefit (DB) pension landscape. This year's Purple Book is our 20th edition.