Pension Protection Fund faces £343m shortfall - papers 8 Nov

The figures show only £324m is likely to be collected in 2006-07 – little over half of the £575m targeted – while claims for 2005-06 were £485m, of which only a quarter (£138m) was covered by levies. In its first full year of operation, the PPF accepted 98 failed or failing pension schemes into its assessment period, reports the paper. As a result, 43,000 pension scheme members are receiving, or will receive, payments from the fund, which is financed by an annual levy on all eligible pension schemes. UK LENDERS have dished out billions of pounds' worth of loans in the past six months w...