This is the independent fund established under the Pension Act 2004 to compensate members of private sector defined benefit pension schemes who have lost benefits because their employer became insolvent. The PPF charges levies on all private sector defined benefit schemes to provide this compensation. PPF is also responsible for managing the Fraud Compensation Fund. Compensation to members of schemes that join the PPF is 100% if their pension is in payment. For those who are not retired, the compensation is 90% of their accrued benefit. However this amount is subject to an overall annual cap, which is currently £29,748. [this amount will change, if don’t want to keep changing it just delete the last few words. Could link to http://www.pensionprotectionfund.org.uk/Pages/Compensation.aspx instead]

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