UK – The Pension Protection Fund today has confirmed that insurance broker Heath Lambert’s three pension schemes have entered into an assessment period.

It said: “The assessment period will determine whether the scheme satisfies the criteria for entry into the Pension Protection Fund.”

The PPF will seek to establish if the scheme can be rescued and whether it can afford to secure benefits for scheme members which are at least equal to Pension Protection Fund levels of compensation.

“During the assessment period, the schemes will continue to be administered by the schemes’ trustees,” it added.

The trustees would continue paying pensions to those already receiving them and start paying pensions to members reaching the scheme retirement age.

And trustees would also communicate with members on progress occurring during the assessment period and work “in partnership with the Pension Protection Fund in determining if the scheme qualifies for inclusion”.

“If members of the Heath Lambert schemes have any queries relating to their pension, they should contact the trustees of the scheme,” the PPF added.

Heath Lambert Management entered into administration on May 26, which enabled the schemes to enter the PPF assessment period.

The PPF stressed that the assessment period could last at least a year.