Pension Protection Fund
The PPF is run by an independent Board and accountable to Parliament through the Secretary of State for the Department for Work and Pensions.• If a member is an early retiree or under the normal pension age of the scheme, they will receive 90 per cent of what they were.Member compensation will remain stable and not change if there are no inflationary increases or if there is a fall in inflation too.One of the PPF's four sources of funding is a levy charged to all eligible defined benefit schemes.The PPF will then take a 12-month average of these scores between April and March and place the scheme's sponsoring employer(s) in one of ten levy bands.