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Pension Protection Fund

Work and Pensions written question – answered on 18th June 2009.

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Photo of Christopher Huhne Christopher Huhne Shadow Home Secretary

To ask the Secretary of State for Work and Pensions whether the Government plan to stand behind the Pension Protection Fund in circumstances in which its assets and contributions are not sufficient to meet claims made on it.

Photo of Angela Eagle Angela Eagle The Minister of State, Department for Work and Pensions, Member, Labour Party National Executive Committee

There is no need for the Government to guarantee the Pension Protection Fund. The PPF is designed to work over the long term. With around £3 billion in assets, and a monthly compensation bill of around £4 million, the PPF is able to fund compensation for a long time to come.

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