Pension Protection Fund: contingent asset requirements

Resource type: Practice note

Status: Maintained

Jurisdictions: England, Scotland, Wales

This practice note summarises the requirements of the Pension Protection Fund (PPF) relating to the use of contingent assets to reduce a scheme's risk-based PPF levy.

It explains why an employer might benefit from using contingent assets to fund its pension scheme, the different types of contingent assets recognised by the PPF and the formalities to be met when certifying (or recertifying) a contingent asset, including when a legal opinion will be needed.

Caroline Overton, Allen & Overy LLP

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Resource information

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Resource ID: 0-206-6961
Products: PLC UK Pensions, PLC UK Public Sector
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Related content

Topics

Funding and Investment: PensionsFunding and Investment: Pensions (http://incentives.practicallaw.com/1-205-7956)
Pension Protection FundPension Protection Fund (http://incentives.practicallaw.com/6-379-8238)

Practice note: overview

Pension Protection Fund: overview Pension Protection Fund: overview (http://uk.practicallaw.com/topic7-205-4460)

Practice notes

Contingent assets: recent market practice Contingent assets: recent market practice (http://uk.practicallaw.com/topic5-206-7963)
Pension Protection Fund: assessment periods Pension Protection Fund: assessment periods (http://uk.practicallaw.com/topic8-381-0847)
Pension Protection Fund: levies Pension Protection Fund: levies (http://uk.practicallaw.com/topic8-219-9962)
Scheme-specific funding Scheme-specific funding (http://uk.practicallaw.com/topic7-203-0742)
Using contingent assets Using contingent assets (http://uk.practicallaw.com/topic9-206-7961)

Checklists

Using contingent assets: issues for employers: checklist Using contingent assets: issues for employers: checklist (http://uk.practicallaw.com/topic7-364-4962)
Using contingent assets: issues for trustees: checklist Using contingent assets: issues for trustees: checklist (http://uk.practicallaw.com/topic5-364-4963)

Form

Pension Protection Fund: type A contingent asset (group company guarantee) (September 2006) Pension Protection Fund: type A contingent asset (group company guarantee) (September 2006) (http://uk.practicallaw.com/topic0-207-2269)

Glossary

Buyout Buyout (http://uk.practicallaw.com/topic8-206-2068)
Occupational pension scheme Occupational pension scheme (http://uk.practicallaw.com/topic8-107-6900)
Pension Protection Fund (PPF) Pension Protection Fund (PPF) (http://uk.practicallaw.com/topic7-205-4059)
Pensions Regulator Pensions Regulator (http://uk.practicallaw.com/topic9-201-5137)

External resources

Pension Protection Fund: contingent assets guidance (December 2009) Pension Protection Fund: contingent assets guidance (December 2009) (http://uk.practicallaw.com/topic7-501-2080)
Pension Protection Fund: contingent assets guidance (December 2010) Pension Protection Fund: contingent assets guidance (December 2010) (http://uk.practicallaw.com/topic6-504-4487)
Pension Protection Fund: contingent assets guidance (February 2008) Pension Protection Fund: contingent assets guidance (February 2008) (http://uk.practicallaw.com/topic3-203-9645)
Pension Protection Fund: contingent assets guidance (November 2008) Pension Protection Fund: contingent assets guidance (November 2008) (http://uk.practicallaw.com/topic2-384-2747)

Pension Protection Fund: contingent asset requirements

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