News
December 2006
Pension Protection Fund (PPF) makes first direct payments
The Pension Protection Fund (PPF), set up by the Government in April 2005 to safeguard members of occupational pension schemes, has made its first direct payments.
Forty six pensioners, from three different schemes, were compensated directly by the PPF after their occupational pension schemes transferred into it. Until then over 90,000 pension scheme members had benefited from the protection of the PPF, but payments had been made by administrators or providers.
It is a significant step forward that the PPF has made its first direct payments. As PPF Chairman, Lawrence Churchill said: "We were set up to pay compensation and now we are doing so."
Find out more about the Pension Protection Fund (PPF)
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