PPF costs to double to £22m by 2009

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The Pension Protection Fund has published its updated management plan which reveals running costs for the organisation will almost double by 2009/10 to more than £22m from around £12m in 2006/07.

However, the figures in the 33-page document point out while the organisation will continue to grow costs over the next few years, due to a growing staff rate and increased consultancy and advisory services, it says the cost for each member admitted to the PPF should fall over time, from £126 to £85 by 2009/10. The PPF says over the next three years investment in the resources and capabilities of the organisation will be focused on recruiting additional skilled staff and the “procurement of additional support services”, particularly for the assessment process and further automation aroun...

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