The Pension Protection Fund (PPF) has published issue 6 of its Technical News update.
This edition includes an article on the new definition of “money purchase benefits” which came into force on 24 July 2014, and how the new regulations affect schemes which entered PPF assessment periods prior to that date. There is also a section on when the PPF may direct trustees to provide an out-of-cycle valuation. Schemes which are currently eligible for PPF protection will be contacted by the PPF.
Items in the “things to watch” section include changes to the PPF entry rules and the revised Statement of Recommended Practice (SORP) which is due to apply to scheme accounting periods beginning on or after 1 January 2015.
View the newsletter.