The Trustee of the Uniq plc Pension Scheme has received its withdrawal notice from Pension Protection Fund (PPF) assessment.
The Pensions Regulator (TPR) has today issued a report explaining the role it played in the process. Its executive director for defined benefit regulation, Stephen...
Chris Collins, Pension Protection Fund, explains the PPF’s new levy framework and how schemes can prepare for its introduction
With April approaching, attention at the Pension Protection Fund (PPF) is focused on the implementation of the new levy framework which will then be in place. Schemes will see the impact of the changes later in autumn 2012, when invoicing starts, but the changes we are making mean that schemes...
The Pension Protection Fund (PPF) has published the latest version of the Purple Book.
This is the sixth edition of the publication which focuses on the risks faced by predominantly private sector defined benefit pension schemes throughout the UK.
The main focus of the 2011 publication is on...
The aggregate deficit of the 6,533 schemes in the Pension Protection Fund (PPF) 7800 index is estimated to have increased over the month to £255.2bn at the end of December 2011, from a deficit of £222.1bn at the end of November. The funding ratio fell from 81.9% to 80.0%.
Total assets...
The Pension Protection Fund (PPF) has confirmed how it will calculate compensation for men and women being assessed for entry into the PPF – or who are already PPF members – to ensure the equal treatment of men and women required by law.
But, before applying the method to all...
The Pension Protection Fund has confirmed how it will calculate compensation for men and women being assessed for entry into the PPF – or who are already PPF members – to ensure the equal treatment of men and women required by law.
But, before applying the method to all pension...
At the end of March 2011 the Pension Protection Fund (PPF) had a £678m surplus over liabilities, an increase of £248m from the previous year.
In its annual report published today, the PPF also reported that, at the end of the same period, it was 105.1% funded compared with 103.3%...
PPF draft levy determination for 2012/13
The Pension Protection Fund (PPF) has announced that its levy estimate for 2012/13 is £550m, the lowest levy to be set since its introduction. The reduction from the £600m target in 2011/12 reflects the improved funding position of the PPF as well as the move to the Consumer Prices...
The pension protection levy for 2012/13 will be £550m.
This is the lowest levy that the Pension Protection Fund (PPF) has ever set and marks a reduction from £600 million in 2011/12, the second cut in two years.
The PPF has also began consulting on the rules which will govern its...
The Pension Protection Fund is weathering the economic storms, says Alan Rubenstein
The past two years have seen challenging times for the economy at large, as well as for the pensions industry more specifically. Financial crises, subdued growth, turmoil in the bond markets: we are all familiar with the story and the underlying causes.
But far from being tossed about on stormy...
The aggregate balance of the 6,533 schemes in the Pension Protection Fund ( PPF) 7800 index has decreased over the month to a deficit of £13.5bn at the end of May 2011, from a surplus of £2.3bn at the end of April.
The funding ratio fell from 100.2% to 98.7%. Total assets were...
The Pension Protection Fund (PPF) has set up a panel of actuarial firms to help carry out section 143 (s143) valuations for pension schemes in assessment.
Five actuarial firms have been selected to work with the PPF to help get other schemes, through the PPF assessment period more quickly....
Scheme sponsors and trustees continue to have doubts about the sustainability of the Pension Protection Fund (PPF) as a standalone entity according to Barnett Waddingham’s third annual PPF survey.
Many survey respondents felt that the methods used for assessing the levy are not a fair...
The Pension Protection Fund (PPF)’s new pension protection levy framework will take effect from 2012/13.
Key features of the new framework include:
fixing levy rules for three years to provide certainty
averaging funding levels so that short term volatility in financial markets is...
Scheme sponsors and trustees continue to have doubts about the sustainability of the Pension Protection Fund (PPF) as a standalone entity according to Barnett Waddingham’s third annual PPF survey.
Many survey respondents felt that the methods used for assessing the levy are not a fair...
The Pension Protection Fund (PPF) has announced details of its new pension protection levy framework which will take effect from 2012/13.
Key features of the new framework - which was developed in close co-operation with stakeholders in industry and beyond, and which received widespread support...
The board of the Pension Protection Fund has announced via a frequently answered question that it will raise a Fraud Compensation Levy for 2011/12 at the rate of 25p per scheme member.
The Pensions Regulator is investigating whether the Mayor of London’s office breached pension requirements when it placed Visit London (formerly the London Tourist Board) in to administration and transferred many of the staff to London & Partners in similar jobs and potentially the...
The Pension Protection Fund (PPF) has taken another 30 schemes under its wing, resulting in a further 12,485 members around the UK now receiving compensation – or will do so in the future.
Among the schemes to transfer were: Golden Wonder Pension Scheme (1,429 members); Allied Carpets PLC...
Pension schemes have a final chance to reduce their 2011/12 Pension Protection Fund (PPF) levies, potentially saving millions of pounds, but they must remember to take action ahead of the 31 March deadline, says Aon Hewitt.
PPF annual levies for 2011/12, which are payable by UK defined benefit...
