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Number of schemes in PPF increases yet again

The Pension Protection Fund has taken on five more schemes over the past month resulting in a further 1,313 people in the UK having to receive pension compensation.

The PPF says that to date there are now 66 schemes in the organization and a total of 20,262 people are now receiving or will receive compensation in the future.

Between October 2 and November 1, the PPF paid out more than £3.2m in compensation. The organisation has a total of 265 schemes in its assessment period and a total of 120,722 members. The average yearly compensation for each person is £4,700.

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