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
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