This section contains up to date technical guidance issued by the Pension Protection Fund. Guidance for Trustees is available in a separate section.
Valuation Guidance and Statements
Compensation Cap Factors
Early Retirement Factors
Late Retirement Factors
Guaranteed Minimum Pensions (GMPs)
The PPF has also issued a revised note (April 2013) providing some general information on the calculation of the Commutation, Early and Late Retirement Factors.
You may also wish to view guidance and factors that were valid for previous periods. Please use the links below:
Valuation Guidance valid for previous periods
Compensation Cap Factors valid for previous periods
Commutation Factors valid for previous periods
Early Retirement Factors valid for previous periods
Guidance on GMP Reconciliation
The PPF has issued a guidance note on the completion of the reconciliation of a scheme’s membership records & GMP amounts with NISPI’s records.
Technical News Published
Technical News Issue 3 was published on 28 March 2013. This issue looks at the April 2013 PPF regulations, GMP reconiciliation and equalisation and pension funds and VAT.
Technical News - Issue 2, November 2012
Technical News - Issue 1, February 2010
Funding Determination and Reconsideration Process Calculations Documents Published
On 21 September 2012, the PPF published published formal Statements setting out the detail of the new funding determination and reconsideration process calculations. The corresponding template certificates that must be completed for providing estimates to the PPF were also published.
All of these are available on the Valuation Guidance and Statements page.
Earlier in September, the PPF had published its Response to the July 2012 consultation on Funding Determinations and amendments to section 151 in Miscellaneous Regs.
This followed the July 2012 consultation document: Consultation on Funding Determinations and amendments to section 151 in the Pension Protection Fund (Miscellaneous Amendments) Regulations 2012