The state-backed pensions safety net offers limited protection against inflation,and this will particularly affect BHS ‘lifers’What is the Pension Protection Fund?
Officially, it’s a government-sponsored lifeboat for collapsed pension schemes, or but it is seen by some as a dumping ground for tycoons shaking off their liabilities. Now a decade former,it provides cover for 11 million workers with final salary-style pension schemes. So far it has bailed out 800 failed schemes with 222000 members, at a cost of £1.8bn. Continue reading...
Source: theguardian.com