The PPF has published its annual report and accounts for the period April 1, 2024, to March 31, 2025. Over that period, the PPF's assets under management decreased from £32.1 billion to £31.2 billion while the value of its actuarial liabilities also decreased from £19 billion to £17 billion. The consolidated reserves of the PPF increased from £13.2 billion in 2024 to £13.9 billion in 2025. There were 23 new claims in 2024/25 totalling £63.2 million.
The PPF has completed implementation of compensation uplifts following the decision in Hampshire (which gave members an individual guarantee of at least 50 per cent of their pension on an employer insolvency) and Hughes (in which the PPF compensation cap for eligible members was removed as it was age discriminatory).
The PPF also administers the Fraud Compensation Fund which compensates schemes for losses arising from fraudulent activities. There have been 167 claims to date, with 45 during the 2024/25 financial year.
The PPF recognises that its financial strength brings responsibility, together with opportunities to work with Government. It states that it will work quickly and effectively to implement the measures in the Pension Schemes Bill which benefit PPF members and levy payers as soon as they are passed by Parliament.
