Asset Owner Directory

The Pension Protection Fund

The fund protects people with a defined benefit pension when an employer becomes insolvent. The Pension Protection Fund (PPF) was one of the measures set up by the Pensions Act 2004 in response to a series of high-profile cases in which pension schemes had wound up with insufficient assets to meet their pension commitments. It was established to pay compensation to members of defined benefit and hybrid occupational pension schemes where an employer has become insolvent, and where there are insufficient assets in the pension scheme to cover PPF levels of compensation.  It commenced operations on 6 April 2005 and applies to schemes whose sponsoring employer became insolvent after that date.

Country

United Kingdom

AUM ($B)

$53

Performance

23.9

Chief Executive

Oliver Morley

Chief Investment Officer

Barry Kenneth

Chair

Kate Jones

Asset allocation

40% Liability Hedging Instruments

41.5% Return-seeking Assets

12.5% Hybrid Assets

6% Cash

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PPF looks to hybrids

The Pension Protection Fund was set up nearly a decade ago to protect members of UK defined benefit pension where the sponsor became insolvent.More insurance provider than pension fund it’s risk tolerance is low and its investments conservative. But chief investment officer, Barry Kenneth, says the portfolio is evolving, including a new allocation to hybrids […]
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