PPF amendment in Parliament this week

Arranged as a temporary fix before the new Pension Protection Fund (PPF) in April 2005, the Government announced a £400m fund in May to increase funds available to an estimated 65,000 people whose schemes had been wound up from 1997. Funds not wound up between May 2004 and April 2005 however, were not originally covered by either scheme. Pensions Minister, Malcolm Wicks last week announced these funds would be included adding, however, no further money would be allocated towards these schemes, meaning the original £400m will have to cover many more people. Pension experts have argued ...