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Pension Protection Fund

PRI reporting framework 2017

You are in Organisational Overview » Basic Information

Basic Information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.2. Additional information. [Optional]

The UK Pension Protection Fund was set up under the provisions of the Pensions Act 2004 in April 2005 and is classified as a public financial corporation.

We protect millions of people who belong to defined benefit, eg final salary, pension schemes in the United Kingdom. If their employer goes bust and their pension scheme cannot afford to pay what they were promised, we will pay compensation for their lost pensions.

Over a hundred thousand people are now receiving compensation and hundreds of thousands more will do so in the future.

Compensation and the cost of running the PPF is paid through levies on eligible pension schemes. We also generate income from our own investments taking on the assets of schemes that transfer to the PPF and recovering money, and other assets, from insolvent employers of the schemes we take on.

We have £23.4 billion in our investment portfolio (31 March 2016) which is continually growing, and is currently managed both internally and externally.

Highlights as at 31 Mar 2016

  • As at 31st Mar 2016, the PPF had  225,534 members, made up of 105,491 deferred and 120,043 Pensioner members .
  • By the end of our financial year, we were supporting 120 schemes in the assessment period, with assets of £5.4billion and liabilities of £6.7 billion.

  • By the end of March 2016, the PPF had a funding level of 116.3 per cent -  an increase on the previous year, which was 115.1 per cent.
  • By 31 March 2016, we were 93 per cent confident of meeting our target of being financially self-sufficient by 2030, an increase from 88 per cent at 31 March 2015.

Further details regarding the PPF's strategic objectives and investment strategy for the year under review can be found in its annual report which can be found here: http://www.pensionprotectionfund.org.uk/DocumentLibrary/Documents/ARA_1516.pdf

 


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United Kingdom

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

328 FTE

02.4. Additional information. [Optional]


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/03/2016

04.2. Indicate your total AUM at the end of your reporting year, excluding subsidiaries you have chosen not to report on.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Additional information. [Optional]


OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. How you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity <10% 7 0 0
Fixed income 10-50% 22.5 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash >50% 58 0 0
Other (1), specify 10-50% 12.5 0 0
Other (2), specify 0 0 0 0

'Other (1)' specified

          Other (1) relates to Hybrid Assets which are defined as illiquid assets with hedging characteristics
Under Cash, we include Gilts and other Global Govt Bonds
        

06.2. Publish our asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market (Private)


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