In a new consultation on how levies will be calculated for 2020/21, which launches today, the PPF proposed an unchanged approach to the levy rules for 2020/21.
We understand this is a very difficult time but if you're a member of a Thomas Cook defined benefit pension scheme you can be assured that your pension is protected by us
PPF Chairman, Arnold Wagner said: “I’m delighted that Rodney, Nailesh and Anna are joining the PPF Board, bringing a broad range of highly relevant knowledge and experience. Our commitment to deliver the best outcomes for pension schemes, members, and levy payers in volatile times remains resolute. In this, the first year of our three year strategic plan, our goal is to set new standards for service, innovation and assurance while combining the best of the private and public sector.
I’m delighted to announce that Rodney Norman, Nailesh Rambhai and Anna Troup are joining our Board, bringing a broad range of highly relevant knowledge and experience.
This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
In April, we confirmed that we had started to pay increased benefits to PPF and FAS pensioners who were most affected by the Court of Justice of the European Union’s (ECJ’s) ruling because they had had their benefits adjusted by the Long Service Cap.
Schemes that are genuinely unable to pay their levy invoice within 28 days have always been able to apply for a payment plan. A payment plan can spread the cost of the levy over a number of months.
This update provides the latest estimated funding position, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
Every year we review the actuarial factors we use to calculate retirement quotes and pension benefits for our members.
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