Earlier this month Chris Jackson posted on the changes that have been made to PPF Type A guarantees under this year’s Pension Protection Fund levy determination, published in December 2011. Whilst Type A guarantees are by far the most popular type of contingent asset for PPF purposes, we do have a number of clients who have put in place or are looking to put in place Type C letters of credit. However the current Eurozone crisis is reducing the number of financial institutions that can meet the right criteria.
Archive for the ‘Pension Protection Fund’ Category
Could the Eurozone crisis mark the end of Type C contingent assets for Pension Protection Fund purposes?
Thursday, 26 January 2012It’s PPF contingent asset season for pension schemes – dust off the old and bring in the new
Tuesday, 10 January 2012Christmas is over for another year and, with the last mince pie eaten and New Year’s resolution forgotten, everyone seems finally to have come back to work for a rest. Sadly there won’t be much time to rest for those pension schemes whose sponsoring employers are considering putting PPF contingent assets in place, the most popular by far being Type A guarantees. The deadline of 5pm on 30 March 2012 for submitting the paperwork might seem very far away but don’t be fooled by that*. (more…)
Do you know who your “statutory” employers are?
Friday, 23 September 2011If you are filling out your scheme return from November 2011 you will need to answer the question “who is your statutory employer?”
PPF-compliant guarantees – are they still worth it?
Tuesday, 12 October 2010There are plans afoot for a radical reshaping of the way the Pension Protection Fund levy is calculated – underfunding risk will be smoothed; investment risk will be taken into account; sponsor insolvency risk will be based on a 12-month average, not a snapshot, and the scaling factor will be fixed for three years at a time. The changes also mean that some schemes will no longer get a reduction in their levy bill for having a PPF-compliant (Type A) guarantee in place. (more…)
Top ten pensions issues: are you keeping up with the Joneses?
Tuesday, 27 April 2010A week ago I started running through the top ten issues our clients were looking at at the moment. So were you able to predict what the next five are? Here goes…..
