On eve of Brexit, PPF’s chief risk officer isn’t too worried
Stephen Wilcox talks about getting pensions paid without the benefit of controlling ‘UK Plc’
Possibly the most basic tool in any risk manager’s kit is the simplest: pick your battles. However, the UK’s Pension Protection Fund (PPF) – which steps in when a defined benefit pension can no longer pay its retirees – has no such option.
By the time the agency is on the scene, a problem has already arisen, ranging from minor to ground-shifting: a UK company offering a defined benefit scheme is in trouble, and its pension scheme requires assessment and, in the worst case, a bailout. The PPF
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