Former director of trustee firm ordered to pay into Uniway Systems and Genwick schemes
Standard Life will act as ‘safe haven’ for members receiving restorative compensation from the FCF
Pensions review terms of reference, new illiquid asset trading system, and FCF awards £9.8m compensation
Roadmap includes plans for service, continued digital transformation and sustainability
Levy increase could amount to £5m a year for some auto-enrolment schemes
The PLSA supports the fraud compensation regime but called for an implementation delay
The levy is paid by scheme members and funds the PPF-managed Fraud Compensation Fund
The Pension Protection Fund (PPF) has confirmed its fraud compensation fund (FCF) needs to raise a levy of 75p per member, and 30p for master trusts in 2021/2022 — the maximum allowed under current regulations.
The Fraud Compensation Fund (FCF) levy will unfairly hit auto-enrolment (AE) savers under government proposals, The People's Pension has warned.
The Pension Protection Fund (PPF) has raised the fraud compensation levy for the first time since 2012 as it prepares for an expected swell in claims.