Sara Protheroe

The Pension Protection Fund has seen its funding level improve by 1.2 percentage points, after enjoying above target returns in a year when it took on pension schemes of big corporates like Carillion.

Defined benefit (DB) consolidation vehicles may be subject to a special levy if they are deemed eligible for the Pension Protection Fund (PPF) in the event of a failure.

Having successfully brought PPF member services in-house, the lifeboat fund will do the same for FAS administration to lower costs and deliver customer satisfaction. The PPF speaks to Stephanie Baxter.