UK Pension Protection Fund takes on another 17 schemes
UK - The UK Pension Protection Fund (PPF) has accepted 17 new schemes for compensation in September, including 1,768 individuals who are already are receiving pensions from the safety net.
There are now 194 schemes in the PPF, representing more than 50,800 individuals who are either current or deferred pensioners.
The 1,768 newcomers bring the total number of individuals currently receiving pensions from the PPF to 23,136.
As at 30 September, the PPF had paid out £198m in compensation, representing an average annual pension of £4,000.
The oldest recipient is 105, and the youngest is five years old.
More than 380 schemes, representing nearly 213,400 members, are currently in the assessment period, during which time the PPF analyses whether a scheme is capable of paying PPF level benefits itself.