Can you transfer from the Pension Protection Fund?
No. You are unable to do a transfer out of the pension protection fund, the pension freedom does not apply with PPF. You are unable to make transfers or drawdown/ withdraw cash lump sums before retirement.
How do I contact the Pension Protection Fund?
Pension Protection Fund
- Phone (from UK) 0330 123 2222.
- Phone (from outside of UK) 020 8633 4902.
- Textphone (for deaf and hard of hearing users only) 0845 600 2542.
How much does the Pension Protection Fund pay?
Members who have not reached the scheme's normal pension age at the assessment date will receive up to 90% compensation on reaching the normal pension age of their scheme. Members who have retired but have not reached their normal pension age at the assessment date will also receive up to 90% compensation.
What is my PPF compensation valuation?
What do I need to do? If as part of any divorce proceedings you're asked to provide a valuation of your compensation benefits, you should ask us for a Cash Equivalent Value (CEV). This is the value of your benefits from the PPF as a lump sum.
Can I transfer my pension from the Pension Protection Fund?
No. You are unable to do a transfer out of the pension protection fund, the pension freedom does not apply with PPF. You are unable to make transfers or drawdown/ withdraw cash lump sums before retirement.
What percentage of a survivor's pension for a spouse civil partner or relevant partner is payable as compensation under the terms of the Pension Protection Fund PPF )?
Where compensation is being paid to a spouse, civil partner or relevant partner, the following compensation will be paid to the member's children: one child – 25 per cent of the member's compensation. two or more children – 50 per cent of the member's compensation, divided equally.
How much does the Pension Protection Fund cover?
Members who have not reached the scheme's normal pension age at the assessment date will receive up to 90% compensation on reaching the normal pension age of their scheme. Members who have retired but have not reached their normal pension age at the assessment date will also receive up to 90% compensation.
Can I take my PPF pension early?
Can I retire early? You have to be 55 years old or over to retire early - unless you have the right to take your pension earlier under the rules of your former pension scheme (known as protected pension age). If you want to receive your compensation early, you should contact us to ask for an early retirement quote.
How does the Pension Protection Fund work?
The Pension Protection Fund (PPF) protects people with a defined benefit pension when an employer becomes insolvent. If the employer doesn't have enough funds to pay you the pension they promised, the PPF will provide compensation instead.
What is the Pension Protection Fund UK?
Who is responsible for running the Pension Protection Fund?
the Department for Work and Pensions