Uncertainty over PPF Compensation


On 6 September 2018, the Court of Justice of the European Union (CJEU) provided its ruling in Hampshire v The Board of the Pension Protection Fund (PPF). The judgment has important implications for the calculation of PPF compensation, with existing arrangements found to be in breach of EU law. It is not yet clear how the Government will respond.

Pension Scams the industrys biggest problem

The pensions landscape has changed a great deal in recent years. For instance, by the introduction of Pensions Freedom and Choice, whereby members with Defined Contribution pension savings (flexible rights) have the potential to take their benefits in many more ways. Consider also the decline of Defined Benefit pension provision in the private sector; today there is a lot more pressure on individuals to maximise their pension savings to give themselves the best possible retirement.

PPF consultation proposes minor changes to the levy rules

The Board of the Pension Protection Fund (PPF) consultation document on the 2019/20 levy published on 20 September 2018 is closing on 25 October 2018. When the levy rules were set for the 2018/19 levy, they were designed to remain in force for three levy years until 2020/21. As a result, only minor changes are proposed for 2019/20, but more significant changes are expected from 2021/22.

PwCs Insurance on IFRS 17 and Insurance Contract Revenue

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