Here you'll find all the guidance you'll need to complete a valuation in line with sections 143, 152, 156, 158 and 179 of the Pensions Act 2004. Section 143 valuations This section is relevant for actuaries completing a valuation to determine a scheme's funding level.
The Pension Protection Fund has today published its full response to its latest section 143 (s143) valuation assumptions consultation, which outlined proposals to allow marginally overfunded smaller schemes to use a bespoke discount rate for certain valuations during the assessment period.
From time to time we consult on possible changes to our actuarial assumptions. You can find details of those consultations and their findings here. 2023 consultation on assumptions We are holding a six-week consultation on possible changes to the actuarial assumptions used for valuations carried out under section 143 and section 179 of the Pensions Act 2004.
Similar to an insurance premium, the amount of levy each scheme pays is primarily based on the risk of its sponsoring employer becoming insolvent. A small portion of the levy we collect is based on the size of the scheme.
The Pension Protection Fund (PPF) has today published its 2023/24 Annual Report and Accounts, highlighting its strong investment performance and continued customer service excellence.
Today we’ve published our Annual Report and Accounts, which looks back at our achievements and challenges over the last financial year, outlines our financial performance and describes our progress against our strategic objectives.
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.
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