Three more schemes enter the Pension Protection Fund

The Pension Protection Fund (PPF) took three more schemes under its wing last month (January), resulting in a further 745 people around the UK now receiving compensation - or will do so in the future.

Project Office Furniture plc Retirement Benefit Plan, Davies and Newman Pensions Plan and Newton Derby Ltd Pension and Life Assurance Scheme are the latest schemes to transfer the PPF.

To date:

71 schemes have transferred to the PPF
21,478 people are receiving or will receive compensation in the future
The PPF paid out £4.2 million in compensation between 5 January 2009 and 2 February 2009
The average yearly compensation is £4,700 per person
The oldest recipient is 101, and the youngest is six years old
The PPF now has a total of 291 schemes in the assessment period and a total of 122,622 members.

Details of the schemes that have transferred can be found on our website at: pensionprotectionfund.org.uk/index/transferred-schemes.htm

This also includes details of schemes currently in the assessment period and those schemes that have completed the assessment but have not transferred in for whatever reason.