Five non-executive directors have been appointed to the board of the Pension Protection Fund by the secretary of State for Work and Pensions, Alan Johnson.
The PPF was passed through legislation earlier this month, forming part of the Pensions Act and providing further cover for workers in final salary pension schemes by ensuring money is received for retirement even if an employer goes bust.
New members to the fund board will offer ‘independent support and challenge to ensure the PPF achieves its objectives’.
The five appointments include:
Chair of the PPF, Lawrence Churchill, said: “I am absolutely delighted that the Pension Protection Fund has attracted such high calibre individuals to oversee this landmark development in the pensions industry."IFAonline
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