Pension Protection Fund definition

Pension Protection Fund means the UK statutory body corporate established under section 107 of the Pensions Act 2004 and called the Board of the Pension Protection Fund;

Pension Protection Fund means the Board of the Pension Protection Fund as established under Part 2 of the Pensions Act 2004;

Pension Protection Fund means the statutory fund established under the UK Pensions Xxx 0000, as amended.

Examples of Pension Protection Fund in a sentence

• This certificate should not be sent directly to the Pension Protection Fund.

• In addition, and in accordance with the actuarial valuation, the Society agreed with the trustees to pay 15.5% (previously 23.2%) of pensionable earnings in respect of the cost of accruing benefits and will meet expenses of the scheme and levies to the Pension Protection Fund.

• Administrative expenses (continued) The Pension Protection Fund (“PPF”) was established by the Government with effect from 6 April 2005 to provide compensation to members of eligible defined benefit pension schemes, when there is a qualifying insolvency event in relation to the employer, and where there are insufficient assets in the pension scheme to cover the PPF level of compensation.

• The employer contribution includes an allowance to cover administration costs, including the Pension Protection Fund (PPF) levy.

• In the UK, the Pension Protection Fund recently estimated that almost 85 percent of defined benefit plans were underfunded, with a cumulative shortfall of over $400 billion48.

More Definitions of Pension Protection Fund

Pension Protection Fund means the statutory fund established under the UK Pensions Act 2004, as amended.

Pension Protection Fund means the UK Pension Protection Fund.

Pension Protection Fund means the statutory fund established under the UK Pensions Act 2004, as amended. “Permitted Liens” means (i) real estate taxes, assessments, and other governmental levies, fees or charges imposedwith respect to any Owned Real Property that (A) are not due and payable or (B) are being contested in good faith by appropriateproceedings and for which adequate reserves have been made with respect thereto; (ii) mechanics liens and similar liens for labor, materials or supplies provided with respect to any Owned Real Property or personal property incurred in the ordinary course of business, consistent with past practice and as otherwise not prohibited under this Agreement, for amounts that (A) do not materially detract from the value of, or materially impair the use of, any of the Owned Real Property or personal property of the Company or any of its Subsidiaries or (B) are being contested in good faith by appropriate proceedings; (iii) zoning, building codes and other land use Laws regulating the use or occupancy of any Owned Real Property or the activities conducted thereon that are imposed by any Governmental Entity having jurisdiction over such real property; provided, that no such zoning, building codes and other land use Laws prohibit the use or occupancy of such Owned Real Property; (iv) easements, covenants, conditions, restrictions and other similar matters affecting title to any Owned Real Property and other title defects that do not or would not materially impair the use or occupancy of such real property or the operation of the Company’s or any of its Subsidiaries’ business; and (v) Liens that, pursuant to the Confirmation Order, will not survive beyond the Effective Date.

Pension Protection Fund or “PPF” means a statutory public corporation which protects people with a Defined Benefit Pension when an employer becomes insolvent. If the employer does not have sufficient funds to pay the pension they promised, the PPF will provide compensation instead. However, some reduction may apply.

Pension Protection Fund means the Board of the Pension Protection Fund as established under Part 2 of the Pensions Xxx 0000.

Pension Protection Fund or “PPF” means a statutory public corporation which protects people who belong to a DBPS, if the employer responsible for funding the scheme they have paid into becomes insolvent;

Pension Protection Fund means the Pension Protection Fund established under the Pensions Act 2004;