Pension Protection Fund
DB funding - October 2020: Small rise in PPF 7800 deficit as second Covid-19 wave sets in
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the October 2020 estimates on the various measures…
PPF levies: The calm before the storm?
Lewys Curteis looks at what the changes to the PPF’s levy rules mean for schemes over the long-term.
DB funding - September 2020: PPF 7800 records £26bn deficit increase
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the September 2020 estimates on the various measures…
Birthday honours for Mark Boyle and Sara Protheroe
Birthday honours have been awarded to pensions industry giants Mark Boyle and Sara Protheroe in recognition of their “outstanding achievements”.
PPF probability of success drops to lowest ever level as reserves plummet by 16%
The Pension Protection Fund (PPF) has an 83% probability of success for its target of being self-sufficient by 2030 as of March this year, a six percentage point drop from 2019.
PPF drops multi-year approach to cut levy to lowest since 2006/07
Around 2,000 small schemes could see their levies cut as the Pension Protection Fund (PPF) consults on introducing a tapered approach to its risk-based levy while temporarily dropping its multi-year approach.
DB funding - August 2020: Strong markets return £59bn deficit reduction
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the August 2020 estimates on the various measures…
PPF and DWP seek appeal over Hampshire implementation
The Pension Protection Fund (PPF) and Department for Work and Pensions (DWP) will appeal court judgments relating to the way the lifeboat fund pays compensation.
A history and the rationale for DB schemes - part three: TPR and its Foucauldian disciplinary powers
In the third feature of a three-part series, Iain Clacher and Con Keating look back at the UK’s defined benefit universe, exploring how the arrival of TPR impacted scheme funding
DB funding - July 2020: PPF 7800 deficit grows another 14%
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the July 2020 estimates on the various measures…
ITV offers £31m to support Box Clever Pension Scheme
ITV has submitted a £31m offer to The Pensions Regulator (TPR) for the Box Clever Pension Scheme after being forced to set out how it would financially support the scheme following a lengthy court process.
Countrywide Farmers scheme completes £100m PPF+ buy-in with L&G
The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members’ benefits above Pension Protection Fund (PPF) compensation levels.
PPF gives 90-day levy extension to struggling employers
The Pension Protection Fund (PPF) has announced a 90-day interest-free extension to levy payments for employers struggling due to the Covid-19 economic crisis.
Five stories you may have missed this week
This week’s top stories included a High Court judgement ruling the Pension Protection Fund’s compensation caps age discriminatory, while the revenue of the three biggest pension consultancy firms saw a year-on-year dip for 2019.
PPF compensation cap deemed age discriminatory
The compensation caps applied by the Pension Protection Fund (PPF) have been deemed age discriminatory by the High Court in another slap down of the lifeboat regime.
PPF and TPR to be given key role in corporate restructures
The government has amended its Corporate Governance and Insolvency Bill to give the Pension Protection Fund (PPF) and The Pensions Regulator (TPR) a greater role in corporate restructurings.
PLSA urges government to amend Insolvency Bill to avoid 'serious consequences' for schemes
The Pensions and Lifetime Savings Association (PLSA) has written to the Department for Business, Energy and Industrial Strategy (BEIS) to express its concerns over the potential impact of the Corporate Insolvency and Governance Bill on schemes.
DB funding - May 2020: PPF 7800 deficit surges by 37%
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the May 2020 estimates on the various measures…
Seven pension bodies team up to reassure savers over Covid-19 concerns
Seven bodies with responsibility for protecting UK pension savers’ pots have joined forces to create an information guide to reassure scheme members amid concern about the impact of the Covid-19 crisis on financial wellbeing in the UK.
Five stories you may have missed this week
This week’s top stories included the Pension Protection Fund naming 11 firms to its trustee and support services panel, and the latest analysis of mortality rates from Covid-19 and its impact on pension scheme assumptions.
Coronavirus crisis underscores urgent need for superfunds
As new figures from the Pension Protection Fund show the shortfall of final salary schemes in deficit grew to £256.4bn during April, Joe Dabrowski examines how the superfund structure could help…if only we had one.
PPF names 11 firms to trustee and support services panel
The Pension Protection Fund (PPF) has launched an advisory panel to support trustees of schemes whose sponsoring employer is stressed or distressed.
DB funding - April 2020: Deficit falls by £7bn, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2020 estimates on the various measures…
'Minimal impact' on levy bills this year, says PPF
Pension schemes should be unconcerned that Pension Protection Fund (PPF) levy bills will rise drastically this year as a result of the Covid-19 crisis, the lifeboat fund says.
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