Examination of Witnesses

Part of Pension Schemes Bill – in a Public Bill Committee at 9:30 am on 21st October 2014.

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Photo of Richard Graham Richard Graham Conservative, Gloucester 9:30 am, 21st October 2014

May we move now to the Pension Protection Fund? Alan, can you first confirm that the PPF will take on the liabilities of, effectively,  any guaranteed element of shared-risk schemes, including collective DC? Have you the right resources to be able to assess the risks, and therefore the levies, of the guaranteed elements of shared-risk schemes that will come up? Overall, is it your assessment that this will increase the potential liabilities of the PPF or that the new shared-risk schemes will mostly be sourced by people exiting from currently open DB schemes, in which case your total liabilities will reduce?