Pension Protection Fund
DB funding - February 2021: Gilts-plus deficit eliminated, says PwC
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the February 2021 estimates on the various measures…
Arnold Wagner to step down as PPF chairman
Pension Protection Fund (PPF) chairman Arnold Wagner will step down at the end of his five-year term in July, the lifeboat fund has announced.
PPF invests £65m in Monmouthshire Housing Association
The Pension Protection Fund (PPF) has made its first direct investment into UK social housing after providing the majority of Monmouthshire Housing Association’s (MHA) recent £85m debt refinancing.
Carillion scheme agrees £150m PPF+ buyout with L&G
The Mowlem (1993) Pension Scheme has secured the benefits of around 1,000 members in a buyout with Legal & General (L&G) offering income above compensation levels.
DB funding - January 2021: Deficits back to pre-pandemic levels, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the January 2021 estimates on the various measures…
PPF consults on changes to actuarial assumptions
The Pension Protection Fund (PPF) has proposed several changes to its actuarial assumptions under various bases as part of a regular review, suggesting moves that would broadly improve scheme funding.
Boohoo acquisition of Debenhams leaves schemes with PPF
The Debenhams brand and website has been acquired by online fashion retailer Boohoo for £55m, although the pension scheme, shops, and stock will not be purchased.
DB funding - December 2020: Deficit up £76bn over 2020, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the December 2020 estimates on the various measures…
PPF confirms key support measures for levy payers
The Pension Protection Fund (PPF) has confirmed a number of key measures to support levy payers following support from its recent consultation on the introduction of a tapered approach.
DB funding - November 2020: Deficit plummets by £47bn in positive month for markets
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the November 2020 estimates on the various measures…
Debenhams schemes remain in PPF assessment after rescue attempt fails
Debenhams’ pension schemes are continuing in Pension Protection Fund (PPF) assessment after administrators failed to rescue the company from collapse.
Green and TPR urged to find solution for Arcadia scheme members
The collapse of Sir Philip Green’s retail giant Arcadia must be met with clear solutions and support for its pension scheme, which looks likely to enter Pension Protection Fund (PPF) assessment, Stephen Timms has said.
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.
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