PPF outlines long-term funding strategy

25 August 2010 at 15:37

PPF outlines long-term funding strategy The Pension Protection Fund (PPF) has outlined its long-term funding and risk reduction strategy, which includes its aims to be financially self-sufficient by 2030.

According to the organisation's report, the strategy makes public the work it has been doing "behind the scenes" since opening for business more than five years ago.

PPF chief executive Alan Rubenstein commented: "We think it is important that we expose our plans so we can show how we intend to ensure we have the financial resources needed to pay existing levels of compensation to current and future members of the PPF."

He added that it is also important to become self-sufficient by the time the level of risk to the PPF from future insolvencies has reduced substantially.

Earlier this week, Mike Morrison, AXA Wealth's head of pension development, said that the current age 75 consultations being carried out by the Department for Work and Pensions could result in another "unintended consequence" in which many investors are left stuck.

Posted by James Harrison ADNFCR-3006-ID-800039830-ADNFCR

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