PPF publishes update on CJEU ruling
Trustees Agenda posted on 31 December, 2018
The PPF has published an update to their initial response to the CJEU ruling in the case of Grenville Hampshire. Following the Court's ruling that pension scheme members should receive at least 50% of the value of their accrued pension entitlement in the event of employer insolvency, the PPF had published a response setting out an interim approach to calculating any increases due and provided some examples of what it might mean in practice for members.
The update confirms that the PPF is continuing to work on its methodology for calculating increases for pensioner members. The PPF believes that the vats majority of members receive more than 50% of the value of their original scheme benefits and their approach is to give priority to those affected by the long service cap first.