View more on these topics

Three more schemes transfered to Pension Protection Fund

A further three pension schemes were transfered to the Pension Protection Fund last month, equating to an additional 745 people who are now due compensation.

Project Office Furniture plc Retirement Benefit Plan, Davies and Newman Pensions Plan and Newton Derby Ltd Pension and Life Assurance Scheme bring the total number of schemes under the lifeboat’s wing to 71, although a further 291 schemes are on watch.

Over 21,000 people are now receiving or will receive compensation in the future, with the average yearly payment sitting at £4,700 per person.

The news raises more doubt over the future of the PPF. But Pensions Minister Rosie Winterton quashed suggestions recently that the Government may become guarantor of the flailing fund.

Responding to Conservative Shadow Pensions Minister Nigel Waterson at the latest Department for Work and Pensions questions, Winterton insisted the PPF did not have a liquidity problem.

She said: “The PPF has made it very clear that liquidity is not a problem. It has £3bn in assets and it is paying out about £4m a month in compensation. It provides reassurance and an essential safety net and it has made it very clear that liquidity is not a problem at this point.”


Small IFAs want better provider support

Almost 90 per cent of small directly-regulated advisers feel unsupported by providers, according to a survey by IFA portal Panacea.


Five ways to make your employee focus group session a success

by Debra Corey, group reward director  You just planned and booked what you thought was the perfect vacation for you and your family. You call everyone together to share the great news and instead of receiving sounds of glee and delight, you receive groans and complaints.Your youngest says: “I hate beaches, didn’t you know that?” (You think to […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm