It’s not always the case that when a pension scheme’s sponsoring employer fails, and the scheme enters PPF assessment, it ends up transferring into the PPF. If the scheme has enough assets to buy higher benefits for its members than we would pay, it’ll buy out benefits outside of the PPF.
The Pension Protection Fund (PPF) has today launched a tender for a new specialist panel which will provide transaction advice to schemes in PPF assessment which are overfunded on a PPF basis (PPF+).
In July 2021 the Court of Appeal ruled the PPF compensation cap was unlawful on the grounds of age discrimination. They supported our approach to increasing payments to PPF and FAS members following the 2018 European Court of Justice judgment in the Hampshire case. We’ve been working on how to implement it.
As with all defined benefit pension schemes, we use factors to calculate your PPF benefits to make sure we're paying you your correct pension, whether you want to retire before, after or on your retirement date, and whether or not you take a tax-free lump sum.
Our member website puts you in the driving seat. It gives you the freedom to access and manage information about your benefits and make informed decisions, at a time that best suits you.
You may have received a letter from a company called Target Professional Services asking you to confirm your address.
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