The Pension Protection Fund—what are the admissible rules of a scheme?

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Produced in partnership with Squire Patton Boggs and Catherine Lonergan of Eversheds Sutherland (International) LLP
Practice notes

The Pension Protection Fund—what are the admissible rules of a scheme?

Copyright © 2025 LexisNexis

Produced in partnership with Squire Patton Boggs and Catherine Lonergan of Eversheds Sutherland (International) LLP

Practice notes
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THIS PRACTICE NOTE APPLIES ONLY TO defined benefit AND HYBRID OCCUPATIONAL PENSION SCHEMES

Purpose of admissible rules

During an assessment period, the trustees must operate the scheme and pay benefits to members in accordance with the admissible rules of the scheme (as defined in paragraph 35(2) of Schedule 7 to the Pensions Act 2004 (PeA 2004).

The pension protection fund (ppf) issued guidance for trustees on how to apply the admissible rules during the assessment period, together with examples, in the Appendix to the Financial Management section of its Detailed Trustee Guidance. This guidance was archived when the PPF changed its website in December 2018, but it remains useful to understand what constitutes an admissible payment.

At the end of the assessment period, if the PPF assumes responsibility for the scheme, and the scheme enters the PPF, the PPF will pay compensation to members and their dependants, determined in accordance with PeA 2004, Sch 7.

A member or other beneficiary will

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Pension Protection Fund definition
What does Pension Protection Fund mean?

The Pension Protection Fund (ppf) is a discontinuance fund which takes assets from the underfunded schemes of insolvent employers and provides a reduced level of benefits.

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