In 2018, the European Court of Justice�ruled that individual members should receive at least 50 per cent of the value of their accrued old age pension if the employer�responsible for funding�the scheme they�ve paid into fails. The vast majority of PPF and Financial Assistance Scheme (FAS) members already receive compensation in excess of 50 per cent of their accrued old age benefits. This means the number of members affected by this ruling is very small.
In 2018, the Court of Justice of the European Union (ECJ or CJEU) ruled in the Hampshire case that individual members of pension schemes should receive at least 50 per cent of the value of their accrued pension benefits in the event of employer insolvency. In May 2020 the Administrative Court heard a challenge brought against us by a number of members to the way we�re implementing the ECJ�s Hampshire ruling, and to the lawfulness of the PPF compensation cap.�
In 2018, the Court of Justice of the European Union (CJEU or ECJ) ruled that individual members of pension schemes should receive at least 50 per cent of the value of their accrued pension benefits in the event of employer insolvency. In May 2020 the Administrative Court heard a challenge brought against us by a number of members to the way we�re implementing the ECJ�s Hampshire ruling, and to the lawfulness of the PPF compensation cap.�
To learn more about which expenses our staff can claim, you can read and download the full policy here: Staff expenses In addition, as part of their contract, every Board member agrees to abide by the seven principles of public life, known as the �Nolan Principles�, which include selflessness and accountability.
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:
Our reserves have grown over the year and we remain in a strong financial position. We entered a maturing phase in our funding journey, and we have been able to halve the PPF levy in 2023/24.
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