A person entitled to, but not yet in receipt of, compensation from the Pension Protection Fund may be entitled to early payment (i.e. earlier than normal pension age/normal benefit age) of compensation.
The circumstances in which early payment is possible are set out in Regulation 2 of the Pension Protection Fund (Compensation) Regulations 2005.
For all PPF compensation determinations in respect of an early retirement with an effective date on or after 1 August 2011 the amount of periodic compensation (i.e. pension) payable early is calculated according to the table in the link below:
Early Retirement Factors from 1 August 2011 - Periodic Compensation
The amount of lump sum compensation payable early (in circumstances where lump sum is a separate entitlement from pension under the scheme, rather than derived by commuting pension) is calculated according to the table in the link below:
Early Retirement Factors from 1 August 2011 - Lump Sum
The early retirement factor is applied to the compensation before the compensation cap is applied.
Until 1 August 2011, please use the following tables:
Early Retirement Factors from 6 April 2010 - Periodic Compensation
Early Retirement Factors from 6 April 2010 - Lump Sum
The early retirement factors will be reviewed from time to time and may be changed without notice.
Factors available for previous periods are also available.