PPF publishes refreshed guidance for restructuring & insolvency professionals

The Pension Protection Fund (PPF) has published its refreshed General Guidance for Restructuring & Insolvency Professionals, which explains the PPF’s approach to key insolvency areas.

Summary

In order to ensure employers do not ‘dump’ schemes in the PPF, the organisation works closely with the Pensions Regulator to ensure any scheme that enters the PPF is the subject of an actual or inevitable employer insolvency.

The guide sets out the criteria that should be incorporated in any proposals made in respect of an insolvent employer. The PPF is not obliged to consider a restructuring proposal, and to do so, the criteria must be met. The guide also provides information on the roles and responsibilities of insolvency practitioners throughout the PPF assessment process.

Malcolm Weir, Head of Restructuring & Insolvency at the Pension Protection Fund said:

Our aim is to ensure that the right amount is paid to the right person at the right time. Progressing the assessment process as efficiently as possible is vital, and insolvency practitioners play a very important role in this. This guide provides IPs with the key principles to follow. We will be issuing further guidance on specific areas of interest during the course of 2016. We would appreciate any feedback on the guidance and encourage open and honest communication.

Source: News Article: PPF Publishes Refreshed Guidance for Restructuring & Insolvency Professionals

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