Babs International Pension Scheme transfers to PPF

The Pension Protection Fund (PPF) has announced it has taken the Babs International Pension Scheme under its wing, bringing an extra 121 people into its compensation scheme.

The addition of the office equipment firm’s scheme in December brings the total number of funds in the PPF to 68, with 20,750 members receiving compensation from the lifeboat fund, now or in the future.

A total of 289 pension schemes are in now in the assessment period for the PPF with a combined 122,884 members.†

The PPF announced it paid out £3.7 million in compensation between 2 December 2008 and 1 January 2009, with an average yearly compensation of £4,700 per person.