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.
If you need to access step down factors that were used in the past, simply follow the links to the appropriate tables, detailed below. Effective dates on or after 1 October 2020 and prior to 1 October 2021 For all determinations in respect of a step down pension with an effective date between 1 October 2020 and 30 September 2021, please use the following:
Guidance and resource from S120 Notice to S143 Valuation
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