Pension compensation rises 66% in a year

The PPF, which compensates scheme members when their employer has become insolvent, attributes the rise to a doubling in benefiting schemes in March. Last month the total number of schemes in the PPF to 41 as the fund marks its third birthday this month. The schemes which joined in March took monthly compensation payments from the £809,000 figure at the beginning of that month. A total of 32 schemes joined the PPF between March 2007 and last month, up from nine in 2006 to 2007 when the fund paid out £12,000 a month. More than 12,000 people now receive compensation or will in the future...