Consultation issued January 2011.
Consultation ended 21 March 2011
The PPF issued consultation on the equalisation of guaranteed minimum pensions (GMPs) for the purposes of PPF and Financial Assistance Scheme Compensation. The Board has concluded that an underpin approach is most appropriate. It proposes to apply this approach to schemes that have already transferred to the PPF and to certain schemes currently in assessment.
The Board proposed that schemes will not have to adopt the underpin approach for the purposes of s179 valuations, although it intends to keep this policy under review.