On the go: The Pension Protection Fund has accepted its 1000th scheme with the transfer of Carillion Rail, a section of the Railways Pension Scheme with almost 4,000 members.
Created in 2005, the PPF now manages £32bn of assets for close to 260,000 members located across the UK and globally.
Currently, the pensions lifeboat’s membership is split between almost 155,000 individuals already receiving their pensions, and roughly 105,000 members who will start their payments in the future.
Oliver Morley, PPF’s chief executive, said: “The transfer of the 1,000th scheme marks a significant milestone in protecting close to 260,000 members who have come to the PPF following a company insolvency.
“While the arrival of the 1,000th scheme represents a lot of insolvencies and change for our members, it shows the value of the PPF and that the legislation put in place to protect our members makes a real difference to people’s lives.”
