Low earners are worst off under the PPF

Graham Miller, a director at O&M Systems, a pensions compliance and occupational pension transfer specialist, says far from guaranteeing 90% of the benefits of a final salary pension scheme should an employer go into receivorship, the PPF will barely provide 50% of benefits in the case of those who need it most. Miller says he is concerned the PPF is not the safety net it is perceived to be, so intermediaries need to be very careful when advising their clients on whether to transfer out of their final salary scheme. He says those on the lowest incomes will be hardest hit should their com...