11 March 2010
In February, seven more pension schemes entered into the Pension
Protection Fund (PPF). Motor Industry Plan, Pittards Closed Scheme
and five Gaskell Pension Schemes are the latest to transfer to the
PPF. This brings the total number of schemes to 120.
The PPF also published the following recent statistics:
- 120 schemes are now in the PPF
- 36,799 people are now receiving, or will receive compensation
in the future.
- The PPF paid out around £8 million in compensation from 1
February and the 28 February 2010
- Since opening its doors in 2005, the PPF has paid out around
£128 million in compensation
- The average yearly payment is about £4,000 per
person
- The oldest recipient is 104 years old and the youngest seven
years old
- The PPF now has a total of 357 schemes and 202,380 members in
the assessment period.
