PPF rescues 16,000 pension scheme members

The PPF, a system designed to bail out pension schemes where the employer has gone bust, says this brought the number of schemes it has rescued since it was established in 2005 to 57. Many of the schemes have just a few members – one in August had only six - but some are larger, including the pension scheme of Leyland Daf Vans, taken on last month. Although set up by the government, the pension protection fund is partly financed by a levy on all private sector final salary occupational pension schemes. Schemes go through an assessment process that takes at least a year before they are f...