Pensions - Articles - Pension Protection Fund sets out its plan for next 3 years

 The PPF has evolved significantly since it was set up in 2005 as the lifeboat for the underfunded retirement schemes of insolvent employers. It now has over 200,000 members and has paid out a total of £1.6bn in compensation, to date.

 
 David Taylor, PPF Director of Strategy & Legal Affairs comments;
 “Today, despite the economic challenges that exist, the PPF is in a robust position and has over £20bn assets under management.
 
 “In order to continue to provide this crucial support, the coming year will see some developments in our approach to customer experience, levy payments and finance operations.”
 
 In the year ahead the PPF will be using its new, award winning insolvency risk model to calculate levy invoices for the first time. This tailored model, created in partnership with Experian, will provide members with a more predictive insolvency risk model, improving transparency and customer service levy payers.
 
 In order to deliver a unique and excellent service to its customers, the organisation will be implementing its major project to bring member services in-house. This hugely significant change will give the PPF greater flexibility and control over the service it provides its members.
 
 David Taylor, PPF Director of Strategy & Legal Affairs continues;
 “We are excited to look forward to the next three years, with the vision that by 2018 we are widely recognised by our customers and our staff as a high-performing customer-focused financial institution. We expect to have nearly 300,000 members, with all members benefitting from member services having been brought in-house. And by operating efficiently, we will have driven down the costs borne by our levy payers. We expect to remain firmly on course to meet our long term funding target of self-sufficiency by 2030.”

  

 Click on the plan below