PPF pays out £1bn as returns allow reserves to soar

Probability of success hits highest-ever level in bounce back after Covid chaos

James Phillips
clock • 3 min read
PPF chief executive Oliver Morley
Image:

PPF chief executive Oliver Morley

The Pension Protection Fund (PPF) paid out £1bn in compensation to members last year as strong asset performance sent both its reserves and its probability of success skyrocketing.

In its 2020/21 annual report and accounts, published on Monday (18 October), the compensation scheme reported a 13.9 percentage point increase in its funding position, which hit 127.3%, as reserves also...

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