Pension Protection Fund Ombudsman
- Pension Protection Fund Ombudsman
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Pension Protection Fund Ombudsman (PPFO)
Created by the Pensions Act 2004, the Pension Protection Fund Ombudsman (PPFO) is empowered to:
• Consider applications from scheme members, trustees or employers relating to reviewable matters; for example, if the PPF decides during an assessment period to disapply certain scheme rules.
The PPFO's office will in due course by funded by a PPFO levy on defined benefit schemes that may be eligible to receive compensation. To date, no PPFO levy has been raised.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
Pension Protection Fund Ombudsman levy — (PPFO levy) One of the levies that the Pension Protection Fund (PPF) may raise from defined benefit schemes that may be eligible to receive compensation if they meet certain entry conditions. Section 209 of the Pensions Act 2004 permits the PPF… … Law dictionary
Pension Protection Fund — (PPF) A statutory fund, established with effect from 6 April 2005 by the Pensions Act 2004. The PPF pays compensation at a prescribed level to members of defined benefit schemes that are eligible for entry. A scheme may be eligible if its… … Law dictionary
Pensions Ombudsman — The Pensions Ombudsman is the official ombudsman institution responsible for invesigating complaints regarding pensions in the United Kingdom. The Pensions Ombudsman is a Non Departmental Public Body, and the holder is appointed by the Government … Wikipedia
Dodd–Frank Wall Street Reform and Consumer Protection Act — Full title An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too big to fail , to protect the American taxpayer by ending bailouts, to protect consumers… … Wikipedia
PPFO levy — Pension Protection Fund Ombudsman levy (PPFO levy) One of the levies that the Pension Protection Fund (PPF) may raise from defined benefit schemes that may be eligible to receive compensation if they meet certain entry conditions. Section 209 of… … Law dictionary
risk-based levy — The most significant of the levies that the Pension Protection Fund (PPF) may raise to fund its operations. The risk based levy forms part of the pension protection levy. It is calculated according to the PPF s assessment of two factors: • The… … Law dictionary
scheme-based levy — One of the levies that the Pension Protection Fund (PPF) may raise in order to fund its operations. The scheme based levy is one element of the pension protection levy. It reflects the number of members in an eligible defined benefit scheme and… … Law dictionary
PPFO — Pension Protection Fund Ombudsman (PPFO) Created by the Pensions Act 2004, the Pension Protection Fund Ombudsman (PPFO) is empowered to: • Investigate complaints about maladministration by the Pension Protection Fund (PPF). • Consider… … Law dictionary
PPF — Pension Protection Fund (PPF) A statutory fund, established with effect from 6 April 2005 by the Pensions Act 2004. The PPF pays compensation at a prescribed level to members of defined benefit schemes that are eligible for entry. A scheme may be … Law dictionary
administration levy — One of the levies that the Pension Protection Fund (PPF) may raise from defined benefit schemes that may be eligible for compensation if they meet the entry conditions. Section 117 of the Pensions Act 2004 gives the PPF power to raise the… … Law dictionary
