Pension Protection Fund
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.
Two-thirds of pension firms cut gender pay gaps
Asset managers have made considerable improvements in their gender pay gaps, with an average narrowing of 2.6 percentage points, Professional Pensions analysis finds.
DB funding - March 2020: 114 schemes fall into deficit in March, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the March 2020 estimates on the various measures…
Covid-19: Dealing with a contributions crisis
As the Covid-19 crisis sees employers seeking changes or suspensions to deficit contributions, Richard Knight looks at how schemes should respond to such requests.
PPF set to 'go live' with D&B insolvency risk scores
The Pension Protection Fund (PPF) is set to go live with insolvency risk scores calculated by Dun & Bradstreet (D&B) next month for 2021/22 levy invoices.
Laura Ashley pension scheme expected to enter PPF assessment
The Laura Ashley Retirement Benefits Scheme is expected to enter Pension Protection Fund (PPF) assessment after the textile designer filed for administration today.
Hear from TPR and PPF at PP's Risk & Scheme Funding Forum - register now
The Pensions Regulator (TPR) and Pension Protection Fund (PPF) will deliver keynote addresses at Professional Pensions’ Risk and Scheme Funding Forum next week.
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