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30 Oct

What does the Pension Protection Fund do?

The Pension Protection Fund (PPF) is a lifeboat fund set up by the Government in 2005 for members of Defined Benefit pension schemes eg final salary schemes, should their employer go bust. Should this happen and if there aren’t enough funds in the pension scheme to pay current and future pension payments it can ask to be bailed out by the PPF. Without this safety net many pensioners and members could potentially lose their pension. Today, there are around 850 schemes in the PPF and this number is growing.

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