Deficit reduction contributions are extra payments you can make to reduce the shortfall of funding in a pension scheme. These could form part of a recovery plan, or be additional to that.
A range of industry stakeholders were also interviewed as part of the review, including trade bodies, schemes, experts, and government officials, ensuring a wide range of perspectives and opinions were considered.
PPF Chair, Kate Jones said: “I’m delighted that David has joined our Board, bringing his extensive finance and risk management expertise, gained in both his executive and non-executive careers, to support our journey as we approach the next phase of our strategic plan and embrace the recommendations of DWP’s recent review.”
The Pension Protection Fund (PPF) has today launched a consultation on proposed changes to the assumptions it uses for certain valuations which provide an estimated price for bulk annuity providers in the buyout market.
Almost all defined benefit occupational pension schemes, and schemes that have defined benefit elements, are eligible.
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