Pensions - Articles - PPF publishes consultation on funding determinations

 The PPF has published its Consultation on Funding Determinations and amendments to section 151 in the Pension Protection Fund (Miscellaneous Amendments) Regulations 2012.The Pension Protection Fund (Miscellaneous Amendments) Regulations 2012 (the Regulations) are intended to exercise powers conferred by sections 143 and 151 of the Pension Acts 2004, as amended by the Pensions Act 2011.

 Changes introduced in the Pensions Act 2011 will:

 
•   Make it possible for the PPF to use a funding determination in place of a section 143 valuation; and
 
•   Allow a scheme to make an application for reconsideration under section 151 if they are unable to obtain a protected benefits quotation.

 The Board proposes to start using the changes introduced by the Regulations as soon as it has had time to consider the responses to this consultation and subsequently published its Statement.

 The Board would therefore like to consult on the proposals set out in this document.

 The Board would like to receive responses to this consultation by 29 July 2012.