Pension Protection Fund

(asked on 23rd November 2016) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what recent assessment he has made of the effect on mutual societies of changes in assessing the relative risk under the Pension Protection Fund levy.


This question was answered on 29th November 2016

The Pension Protection Fund (PPF) is an independent body which pays compensation to members of defined benefit occupational pension schemes where the sponsoring employer becomes insolvent and the scheme is unable to cover the accrued pension liabilities. The PPF is funded from a combination of the transferred scheme funds, recoveries from the insolvent employer, investment return and a levy on eligible schemes. Under the Pensions Act 2004, the levy is set by the PPF independently of the Government.

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