The Pension Protection Fund (PPF) was set up by the government to provide support for members of pension schemes whose sponsoring company suffers insolvency. The PPF is funded by a levy on pension schemes such as the Telefónica UK Pension Plan. In the event of a company becoming insolvent, the PPF steps in to settle a core level of the benefits that the orphaned pension fund promised.
For more information, click on the PPF website.
