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Occupational Pensions: Insolvency

Question for Department for Work and Pensions

UIN HL9156, tabled on 13 October 2020

To ask Her Majesty's Government what is (1) the number, and (2) the value, of Defined Benefit Pension Schemes rescued by the Pension Protection Fund after a pre-pack administration.

Answered on

22 October 2020

This data is not readily available and so has been collated manually by the Pension Protection Fund for the last three years. From January 2020 to October 2020, the defined benefit pension schemes of 13 companies have undergone a pre-pack administration through the Pension Protection Fund. The aggregate value of the Section 75 debts of these pension schemes amounts to £196 million. Section 75 debt corresponds to the amount needed to secure a buyout for scheme members to receive their full benefits and provides a picture of the liability taken on by the Pension Protection Fund.