PPF

Employees will be required to opt-out of company pensions schemes, rather than opt in, the Secretary of State for Work and Pensions has just confirmed.

Government officials have a major confidence-building exercise to perform to build faith in the proposed Pension Protection Fund, suggests Scottish Equitable research.

Around 65,000 pension scheme members have already suffered extensive losses following their schemes being wound-up by insolvent employers, reveals new findings by the Department for Work and Pensions.

Chief executive of Zurich Financial Services Lawrence Churchill is to become the first chairman of the Pensions Protection Fund, Secretary of State for Work and Pensions Andrew Smith MP revealed last week.

Secretary of State for Work and Pensions Andrew Smith MP yesterday said the Pensions Protection Fund will ensure people's savings are "secure" if their company goes bust, contrary to previous government announcement admitting it will not offer any guarantees....

A new package of measures have been unveiled by the Department for Work and Pensions giving the pension regulator greater powers to prevent employers from dumping their liabilities in the Pension Protection Fund.

Some UK employers are already preparing to take advantage of the proposed Pension Protection Fund by winding up schemes as soon as it comes into force next April, warns Stewart Ritchie.

Employers might not find out how much they will be paying for the Pension Protection Fund until five days before the scheme will come into effect, warns Steve Bee.

The cost to employers has so far been the main caveate applied to views on the Pensions Protection Fund, but a closer inspection of the powers of the new pensions regulator, taking over after OPRA, reveals there may be other issues to consider.

Government proposals to charge employers a risk-based fee when introducing the Pension Protection Fund could open loopholes for weaker companies who want to avoid the extra levy, according to industry experts.