PPF produces article on how it has supported overfunded schemes

Article summary

The Pension Protection Fund (PPF) has produced an article covering how it has been supporting overfunded schemes. In part due to a boost in employer contributions and rising interest rates, on average, now more than half of schemes that enter the PPF’s assessment period are overfunded. Historically, the PPF’s processes were geared towards assessing underfunded schemes and so it has remodelled its processes and involvement to help overfunded schemes. In 2022 it announced the PPF+ Advisory Panel. It has helped support 26 schemes work towards securing deals outside of the PPF in the past two years. The PPF also states that it is working closer with insurers and commercial consolidators to provide end-game solutions to Defined Benefit (DB) schemes. However, the PPF expects that the challenges that smaller schemes face in achieving buyout will become more pronounced; but it hopes this will be helped by the government’s commitment to establish a public...