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PPF increases compensation cap
THE Pension Protection Fund has revised the maximum levels of compensation available to its members.
THE Pension Protection Fund has revised the maximum levels of compensation available to its members.
The lifeboat fund said it increased the compensation cap factors to reflect the rise in the general level of earnings in the Great Britain since the previous tax year.
The new factors will be used for all determinations of PPF compensation where the cap is assessed at a date on or after April 1, this year and for Section 143 and Section 179 valuations with effective dates on or after April 1, this year.
For example, the cap for a 65-year-old in 2008-2009 is now set at £30,856.35.
The factors can be found on the PPF website.
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24 Apr 2008 13:31 by TMonk PPF Cap
We are currently in the process of consulting with FAS on the regulations for the improved FAS compensation package and hope that when the FAS cap consultation is published it will include a similiar improvement to the FAS cap
24 Apr 2008 13:43 by TMonk PPF Cap
with reference to my earlier message I did of course mean to conclude with PPF cap