Pension Protection Fund

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.

The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members’ benefits above Pension Protection Fund (PPF) compensation levels.

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.

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.

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.

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.

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.

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 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.

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.