ECJ rules PPF compensation must amount to 50% of members' benefits

In a judgment handed down this morning (6 September), the ECJ said current compensation levels were not always enough, heeding the official opinion of one of the court's advocate-generals that PPF benefits were "unlawful". While benefits for non-pensioners are capped at 90% of £39,006, with no indexation link granted to pre-1997 benefits, this is illegal if it amounts to less than half of the members' original entitlement, the ECJ ruled. PPF could seek special levy for DB consolidators It can also effect members of schemes who had post-1997 benefits linked to the Retail Prices Inde...