Skip to main content

Pension Protection Fund: Hertfordshire

Volume 487: debated on Monday 26 January 2009

To ask the Secretary of State for Work and Pensions how many people have claimed pension payments from the pension protection fund in (a) Hemel Hempstead and (b) Hertfordshire in each of the last five years. (246559)

The Pension Protection Fund was set up to protect members of eligible defined benefit and hybrid pension schemes. Individuals do not need to make a claim to be eligible for PPF compensation.

The PPF commenced operations in April 2005 and the first schemes transferred to the PPF in December 2006.

As at 30 November 2007 there were 1,167 members receiving compensation from the PPF, with 6,024 members due to receive compensation in future as it falls due. 75 members receiving compensation and 370 deferred members resided in the South East of England (excluding London).

As at 30 November 2008 there were 7,703 members receiving compensation from the PPF, with 12,942 members due to receive compensation in future as it falls due. 439 members receiving compensation and 733 deferred members resided in the South East of England (excluding London).

A breakdown of the aforementioned figures below regional level is not available.

While in the PPF assessment period, the process which determines whether a scheme transfers to the PPF, the trustees remain responsible for the running of the scheme with benefits being paid to members at PPF levels when they fall due. As at 30 November 2008 there were 121,300 scheme members, across the UK, in the assessment period.