Requirements for ppf entry

The requirements for a scheme to enter the PPF are:

1. •

   the scheme must be an eligible scheme—see: What schemes are eligible? below

2. •

   either:

   1. ◦

      a qualifying insolvency event must occur in relation to a scheme employer—see: What is a qualifying insolvency event? below, or

   2. ◦

      the employer is unlikely to continue as a going concern and it meets the conditions in SI 2005/590, reg 7—see: Alternative route to PPF entry, below

3. •

   the insolvency practitioner in relation to the employer must confirm that a scheme rescue is not possible—see: Duty of insolvency practitioner to issue notices confirming status of scheme (section 122 notices), and

4. •

   the assets of the scheme must be less than the 'protected liabilities' (broadly, the benefits that would be payable to members by the PPF)—see: Protected liabilities, below

The statutory provisions regarding the eligibility of schemes for entry into the PPF are contained in:

1. •

   sections 120–168 of the Pensions Act 2004 (PeA 2004)

2. •

   the pension protection fund (Entry Rules) Regulations 2005, SI 2005/590 (the Entry Regs)

Which