PPF extends deadline for S179 valuations

Section 179 valuations are used to determine the underfunding in the scheme and are used in the setting and calculation of the risk-based part of the PPF levy, while section 143 valuations works out the level of funding for the scheme to decide whether the PPF should take responsibility for the scheme. Legislation and the PPF Board’s guidance currently requires all annuities bought in the name of trustees (but not members) to be included in section 179 and section 143 valuations, as it says these annuities remain assets of the scheme, and as such should be included in scheme valuations. ...