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The Pension Protection Fund
The new Pension Protection Fund (PPF) and Pensions Regulator came into effect on 6 April 2005, with the aim of protecting workers' interests in the event that their employer becomes insolvent.
Under the new measures, members of eligible defined benefit pension schemes can receive compensation if there are insufficient assets available in the pension scheme.
The Pensions Regulator will also have wider powers to ensure that work-based pension schemes are being well-run.
According to the Government, the measures will take the pressure off employers with well-run pensions schemes, by concentrating on those whose schemes are in difficulty.
Further information on the Pension Protection Fund is available on PPF website.
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