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United Kingdom
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Pension Protection Fund definition What does Pension Protection Fund mean? In UK pensions practice, the Pension Protection Fund (ppf) provides statutory compensation to members of eligible defined benefit and certain hybrid occupational pension schemes when the sponsoring employer suffers an insolvency event and the scheme cannot secure benefits above PPF levels. Established by the Pensions Act 2004 (with parallel legislation in Northern Ireland), the PPF pays “PPF compensation”—typically 100% for members over scheme normal pension age or on survivors’/ill‑health pensions at the assessment date, and otherwise 90% subject to a compensation cap and statutory revaluation/indexation—often lower than scheme benefits. Schemes enter a PPF assessment period following employer insolvency. If, on...
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PPF ‘employer’ definition for DB/hybrid occupational schemes: single and multi-employer (segregated/non-segregated), assessment periods, section 75 debts and consequences of having no employer
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Practice notes
THIS PRACTICE NOTE APPLIES ONLY TO DEFINED BENEFIT AND HYBRID OCCUPATIONAL PENSION SCHEMES
Typically, a scheme’s route into the PPF starts when the Sponsoring employer of an eligible arrangement experiences a qualifying Insolvency event. For a scheme to enter the PPF, its sponsoring employer must satisfy the statutory meaning of ‘employer’ for that purpose.
Who counts as the ‘employer’ differs according to whether:
- the scheme is a single-employer scheme, or is/has been a multi-employer scheme
- the scheme has active members on the date of the qualifying insolvency event
Definition of employer under section 318 of the Pensions Act 2004
Under section 318 of the Pensions Act 2004 (PeA 2004), an employer, in relation to an occupational pension scheme, is the employer of ‘persons in the description of employment to which the scheme in question relates’ (the ‘relevant employees’).
Current case law suggests that relevant employees include:
- active members of the scheme—note G4S v G4S Trustees Ltd, which indicates that members with a final salary link are not active members (see Preserving a final salary link—what does it mean?)...
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Web page updated on 21/05/2026
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