The PPF has published the first issue of its Technical News bulletin which aims to provide guidance on the technical issues which affect pension schemes in a PPF assessment period. Issue 1 covers:
- the Ilford case judgment, as reported in our November 2009 update. Trustees should be wary of proposals seeking to take advantage of the PPF, although sometimes taking into account the PPF’s existence when making trustee decisions is a legitimate consideration;
- benefit equalisation for Guaranteed Minimum Pensions - see further below. The PPF is considering publishing a standard-form deed of amendment for trustees wishing to amend their rules to equalise benefits for all members irrespective of whether comparators can be identified; and
- minimum pension age changes. A reminder that outstanding early retirement applications lapse on transfer to the PPF. Members not already receiving a pension will need to re-apply.
View Issue 1.