Olympic Airlines — government exploring PPF amendments

Steve Webb has confirmed that the government is ‘actively exploring’ if it can amend the Pension Protection Fund (PPF) legislation in regard to employer insolvency, in order to allow members of the Olympic Airlines pension scheme to qualify for PPF compensation.

Webb’s House of Commons written answer follows a Court of Appeal decision in June 2013. The decision ruled that Olympic Airlines winding up in England did not amount to ‘economic activity’ within the meaning of article 3(2) of Council Regulation (EC) 1346/2000…

Click on the link below to read the rest of the Walker Morris briefing.