PPF insists recession will not force cuts to member benefits

Chief executive Partha Dasgupta told IFAonline's sister publication, Professional Pensions, there was "categorically no chance" of member benefits being reduced. He said extensive modelling - which included extreme catastrophes - had ruled out benefit cuts. His comments come as PPF figures revealed the aggregate funding position of the 7800 defined benefit funds monitored by the lifeboat fund worsened to £136bn in November. Occupational Pensions Trust director Ben Shaw said it was likely the PPF would either raise levies or cut benefits as it battled to cope with more schemes calling ...