Skip to main content
CLOSE

Charities

Close

Corporate and Commercial

Close

Employment and Immigration

Close

Fraud and Investigations

Close

Individuals

Close

Litigation

Close

Planning, Infrastructure and Regeneration

Close

Public Law

Close

Real Estate

Close

Restructuring and Insolvency

Close

Energy

Close

Entrepreneurs

Close

Private Wealth

Close

Real Estate

Close

Tech and Innovation

Close

Transport and Infrastructure

Close
Home / News and Insights / News / New PPF guidance on Company Voluntary Agreements

The Pension Protection Fund (PPF) has issued updated guidance on Company Voluntary Arrangements (CVAs), which sets out the considerations for employers and their advisors to demonstrate they have addressed when presenting the PPF with a CVA proposal.

In the last Pitmans Point we highlighted House of Fraser’s proposal to seek a CVA. The new guidance comes as the PPF maintains that it has seen a “marked increase” in the use of CVAs over recent months.

The guidance sets out the approach which the PPF will adopt when considering whether or not to vote in favour of a CVA. It covers questions which will be considered by the PPF such as whether the employer’s proposals have a reasonable prospect of being successful, whether all deficit reduction contributions are up to date and whether the CVA would pose a risk to these. The PPF will also consider whether the trustees should instruct a new valuation and agree a new schedule of contributions, as well as what the quantum of PPF drift is.

The PPF states that it will work closely with the trustees and the Pensions Regulator to minimise the risk to scheme members and it hopes that this guidance will enable employers to address the areas of concern for the PPF from the outset, making the whole process more streamlined.

Related Articles

Our Offices

London
One Bartholomew Close
London
EC1A 7BL

Cambridge
50/60 Station Road
Cambridge
CB1 2JH

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
Grosvenor House, Grosvenor Square
Southampton SO15 2BE

 

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
Grosvenor House, Grosvenor Square
Southampton SO15 2BE

  • Lexcel
  • CYBER ESSENTIALS PLUS

© BDB Pitmans 2024. One Bartholomew Close, London EC1A 7BL - T +44 (0)345 222 9222

Our Services

Charities chevron
Corporate and Commercial chevron
Employment and Immigration chevron
Fraud and Investigations chevron
Individuals chevron
Litigation chevron
Planning, Infrastructure and Regeneration chevron
Public Law chevron
Real Estate chevron
Restructuring and Insolvency chevron

Sectors and Groups

Private Wealth chevron
Real Estate chevron
Transport and Infrastructure chevron