Pensions - Articles - PPF updates for restructuring & insolvency professionals

 The guidance documents set out the criteria that should be incorporated in any proposals made in respect of a sponsoring employer suffering an insolvency event. The PPF is not obliged to consider a restructuring proposal, and to do so, the criteria must be met. The documents also provide information on the roles and responsibilities of insolvency practitioners throughout the PPF assessment process.

 Malcolm Weir, Head of Restructuring & Insolvency at the Pension Protection Fund said: 
 “Regulated Apportionment Arrangements are rare and we do not agree to them lightly. We will only support such proposals if they provide a significantly better return for the pension scheme than it would receive through the normal insolvency process. These arrangements can sometimes be controversial, so we feel it is important that people have a better understanding about our approach to them.”
 
 The documents The PPF Approach to Employer Restructuring and General Guidance for Restructuring & Insolvency Professionals can be found here