PPF launches Protecting People’s Pensions booklet

A new initiative – ‘Protecting People’s Pensions’ - targeting members of work-based pension schemes throughout the country has been launched by the Pension Protection Fund (PPF).

The launch was marked by the publication of an easy-to-understand booklet – ‘Help! My employer has gone bust … and I think I might lose my pension’ – which explains how PPF compensation works.

This leaflet will made available to scheme members through a variety of routes including scheme trustees, the PPF website and through links with other relevant organisations, including Citizen’s Advice.

Chairman, Lawrence Churchill, said: “Independent research showed us that while we are communicating well with employers and trustees, many scheme members were not aware of who we are or what we do. This initiative is designed to help provide confidence to people who may be worried about losing their pensions through their employers going bust.”

Chief Executive, Partha Dasgupta, added: “Our leaflet provides easy-to-understand explanations about how we work, what compensation people might receive in certain situations and how they can find out more about their own individual circumstances. We hope this will contribute to providing valuable reassurance to many pension scheme members.”

‘Protecting People’s Pensions’ is aimed at:

raising awareness among everyone in a defined benefit pension scheme about the PPF and the protection it offers them

providing confidence that people’s pensions are, for the most part, protected by the PPF
encouraging people to invest in their pensions in the knowledge that there is a PPF ‘safety net’, and

helping people understand about the compensation they will receive if their employers go bust.