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).
The newly created role of Head of Restructuring marks an addition to the PPF’s in-house team which has played a leading role in many of the UK’s most high profile pension restructuring deals and insolvency events in recent years.
Despite significant market volatility, the PPF's investment return in the year to 31 March 2019 was 5.2 per cent and its assets under management grew from £30 billion to £32 billion.
Today we’ve published our version of the Senior Managers and Certification Regime outlining the responsibilities of our senior people and how our organisation is arranged and governed.
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