Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Business performanceLatest NewsEconomics, government & businessHR strategyLabour market

Business calls on Government to underwrite pensions protection scheme

by Personnel Today 19 Nov 2004
by Personnel Today 19 Nov 2004

Nearly 90 per cent of employers believe the Government should underwrite the Pension Protection Fund (PPF), according to the Key Pensions Issues survey from Mellon Financial Corporation’s Human Resources & Investor Solutions.


The Government has refused to underwrite the fund, established in the Pensions Bill, and employers taking part in the survey said they do not want to foot the bill for failings of other employers’ pensions policies and business decisions.


The PPF is designed to provide a safety net for pensions schemes that wind-up with insufficient assets after April 2005. However, there has been a lack of sufficient Government support to date for under-funded schemes closing before this date, with only £400m being provided through the Financial Assistance Scheme.


Kevin LeGrand, head of technical services at Mellon and co-author of the report, said: “While Mellon supports the concept of the PPF, we do not believe the funding burden should lie solely with employers who have been diligent in providing for the welfare of their employees in retirement.”


Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

The CBI has also hit out at the Pensions Bill, which finally received the assent of Parliament yesterday, calling it “a wasted opportunity”.


The Bill is set to become law in April 2005.

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

previous post
Employers embrace e-learning but delivery problems hold back progress
next post
Royal Mail pensions still in jeopardy despite profits boost

You may also like

MPs demand Home Office tighten visas to protect...

4 Jul 2025

100% success for latest large-scale four-day week trial

3 Jul 2025

NHS 10-year Health Plan sets out vision for...

3 Jul 2025

Microsoft to cut 9,000 jobs globally as role...

3 Jul 2025

Decline in workplace deaths: falls from height remain...

3 Jul 2025

How can HR prepare for changes to the...

3 Jul 2025

Data skills gap getting in way of AI...

3 Jul 2025

Top 10 HR questions June 2025: Redundancy consultation

2 Jul 2025

Aircrew with cancer pursuing MoD for compensation –...

2 Jul 2025

Living wage pushes up spring pay settlements

2 Jul 2025

  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+