The PPF — the restructuring and insolvency approach

If an employer becomes insolvent and it has a defined-benefit (DB) pension scheme in deficit, the Pension Protection Fund (PPF), the statutory body established to compensate members in such circumstances, will act as a creditor on behalf of the scheme to maximise recovery from the employer.

Pension schemes can only enter the PPF if its sponsoring employer suffers an insolvency. However, sometimes, an employer that is facing insolvency — and has a scheme in deficit — can strike a deal with the PPF that will see it take on responsibility for the scheme, leaving the employer to continue trading.

The PPF’s role in recent high-profile cases has received a lot of scrutiny. The fund has recently published a fact sheet that summarises the conditions that need to be met before it will consider entering into such deals. Broadly, it has advised that the following conditions will need to be met…

Click on the link below to read the rest of the Gateley briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Gateley

View more briefings from Gateley

Analysis from The Lawyer

Overview

111 Edmund Street
Birmingham
B3 2HJ
UK
http://www.gateleyuk.com/news-and-events/social-media/

Turnover (£m): 71.70
No. of lawyers: 406