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The new Pension Protection Fund (PPF) and Pensions Regulator came into effect on 6 April 2005, with the aim of protecting workers' interests in the event that their employer becomes insolvent.
Under the new measures, members of eligible defined benefit pension schemes can receive compensation if there are insufficient assets available in the pension scheme.
The Pensions Regulator will also have wider powers to ensure that work-based pension schemes are being well-run.
According to the Government, the measures will take the pressure off employers with well-run pensions schemes, by concentrating on those whose schemes are in difficulty.
Further information on the Pension Protection Fund is available on PPF website.
For further details email Eacotts on services@eacotts.com or call 01628 665432
Eacotts Chartered Accountants and Chartered Tax Advisers
Servicing the Thames Valley, Berkshire, Buckinghamshire and the UK
This document is for guidance only and professional advice should be sought before acting on the information contained. No responsibility will be accepted by Eacotts for loss occasioned as a result of action taken, or refrained from, in consequence of the contents
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Company number 4708201. Registered Office: Grenville Court, Britwell Road, Burnham SL1 8DF
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