In January the Pension Protection Fund (PPF) took a further three pension schemes under its protection.

The schemes were: the Project Office Furniture Retirement Benefit Plan; Davies and Newman Pensions Plan and the Newton Derby Pension and Life Assurance Scheme.

The Project Office Furniture Retirement Benefit Plan was run by the Workspace Office Solutions (formerly Project Office Furniture) in Derbyshire, which was one of the UK’s largest furniture manufacturers
The employer behind the Davies and Newman Pensions Plan was the London-based ferry services company, Davies and Newman Agencies.

While Leeds electrical manufacturers Newton Derby ran the Newton Derby Pension and Life Assurance Scheme.
These three schemes represent 745 members, who will have their pensions paid from the PPF insurance fund now, or in the future when they retire.

It brings the total number of schemes in the PPF to 71, with 21,478 members, who each receive an average annual pension payment of £4,700 per year.

A further 291 schemes, with 122,622 members, are currently in the assessment period.