In search of stability (TT JulAug08 p12-13)

The Pension Protection Fund set up shop in 2005 to protect the pensions of defined benefit pension scheme members whose employers become insolvent and leave a scheme with inadequate assets to meet its liabilities. The PPF is financed by levies paid by employers that continue to sponsor defined benefit schemes. Every year since then, the PPF has published a consultation document, followed by a final ‘determination’ that sets how it will calculate the levy for the forthcoming year.