Visit the website

Pension Protection Fund

United Kingdom

The fund protects people with a defined benefit pension when an employer becomes insolvent. The Pension Protection Fund (PPF) was one of the measures set up by the Pensions Act 2004 in response to a series of high-profile cases in which pension schemes had wound up with insufficient assets to meet their pension commitments. It was established to pay compensation to members of defined benefit and hybrid occupational pension schemes where an employer has become insolvent, and where there are insufficient assets in the pension scheme to cover PPF levels of compensation. It commenced operations on 6 April 2005 and applies to schemes whose sponsoring employer became insolvent after that date.

Fund Results

Pension Protection Fund

	AustralianSuper	Score	Rank	AwareSuper	Score	Rank	FutureFund, Australia's Sovereign Wealth Fund	Score	Rank	Australian Retirement Trust	Score	Rank	Caixa De Previdencia Dos Funcionarios Do Banco Do Brasil (Previ)	Score	Rank	Vivest	Score	Rank	Fundação Petrobras de Seguridade Social (Petros)	Score	Rank	Fundação dos Economiários Federais	Score	Rank	Itaú Unibanco	Score	Rank	British Columbia Investment Management Corporation	Score	Rank	Public Sector Pension Investment Board	Score	Rank	La Caisse de Dépôt et Placement du Québec	Score	Rank	Canada Pension Plan Investment Board	Score	Rank	Ontario Teachers' Pension Plan	Score	Rank	Pensionskasse des bundes publica	Score	Rank	Pensionskasse SBB	Score	Rank	BVK Personalvorsorge des Kantons Zürich	Score	Rank	Compenswiss	Score	Rank	Migros-Pensionskasse	Score	Rank	AFP Capital	Score	Rank	AFP Cuprum	Score	Rank	AFP Modelo	Score	Rank	AFP Provida	Score	Rank	AFP Habitat	Score	Rank	ATP Lifelong Pension	Score	Rank	PFA Holding	Score	Rank	PensionDanmark	Score	Rank	Industriens Pension	Score	Rank	Sampension	Score	Rank	Varma	Score	Rank	Elo	Score	Rank	Keskinäinen Eläkevakuutusyhtiö Ilmarinen	Score	Rank	Keva	Score	Rank	The State Pension Fund of Finland (VER)	Score	Rank	Government Pension Investment Fund	Score	Rank	Pension Fund Association for Local Government Officials (PAL)	Score	Rank	National Pension Service	Score	Rank	Japan Pension fund Association	Score	Rank	National Federation Of Mutual Aid Associations For Municipal Personnel	Score	Rank	Afore XXI Banorte	Score	Rank	Afore Sura	Score	Rank	Profuturo AFORE	Score	Rank	Citibanamex Afore	Score	Rank	Principal Afore	Score	Rank	bpfBOUW	Score	Rank	ABP	Score	Rank	Stichting Pensioenfonds Zorg en Welzijn	Score	Rank	Pensioenfonds Metaal en Techniek	Score	Rank	Pensioenfonds Metalektro	Score	Rank	Government Pension Fund Norway / Global Pension Scheme	Score	Rank	Kommunal landspensjonskasse	Score	Rank	Government Pension Fund / Norway	Score	Rank	Oslo Pensjonfosikring	Score	Rank	Equinor Pensions	Score	Rank	Old Mutual SuperFund	Score 55	Rank 55	Sanlam Umbrella Fund	Score	Rank	Government Employees Pension Fund	Score	Rank	Sentinel Retirement Fund	Score	Rank	Eskom Pension and Provident Fund	Score	Rank	AP4 (Fjärde AP-fonden - Fourth Swedish National Pension Fund)	Score	Rank	Alecta Pensionsförsäkring, ömsesidigt	Score	Rank	AP3 (Tredje AP-fonden - Third Swedish National Pension Fund)	Score	Rank	AMF	Score	Rank	AP7 (Sjunde AP-fonden - Seventh Swedish National Pension Fund	Score	Rank	Pension Protection Fund	Score	Rank	Universities Superannuation Scheme	Score	Rank	BT Pension Scheme	Score	Rank	NatWest Group Pension Fund	Score	Rank	Lloyds Banking Group Pensions	Score	Rank	New York State Common Retirement Fund	Score	Rank	California Public Employees' Retirement System	Score	Rank	California State Teachers' Retirement System	Score	Rank	New York City Pension Funds	Score	Rank	Federal Retirement Thrift Investment Board	Score	Rank	UniSuper	Score	Rank
Overall		89	7		78	20		71	29		89	7		57	42		50	54		52	51		47	58		44	61		91	5		87	11		92	4		96	2		89	7		67	34		50	54		48	57		53	50		54	46		54	46		50	54		38	68		51	52		41	63		84	14		67	34		74	25		66	37		58	41		69	31		68	32		67	34		61	39		54	46		72	28		38	68		37	71		40	65		51	52		47	58		41	63		38	68		33	74		14	75		84	14		85	12		88	10		75	24		74	25		100	1		60	40		90	6		43	62		39	66		35	73		45	60		66	37		55	44		73	27		85	12		68	32		80	18		70	30		80	18		78	20		77	22		55	44		56	43		39	66		77	22		93	3		83	16		54	46		37	71		83	16
Cost		76	16		68	21		77	15		90	8		39	42		41	39		43	33		41	39		30	53		81	11		67	23		81	11		97	3		79	14		44	32		31	51		38	43		43	33		31	51		42	37		35	45		29	56		33	48		42	37		85	9		35	45		57	27		36	44		33	48		29	56		29	56		29	56		26	61		20	68		52	30		30	53		24	63		22	65		35	45		6	74		11	71		21	67		19	69		11	71		97	3		95	6		97	3		73	17		83	10		100	1		15	70		100	1		10	73		26	61		4	75		57	27		60	26		30	53		52	30		63	24		32	50		80	13		41	39		43	33		68	21		61	25		22	65		55	29		23	64		73	17		95	6		70	20		43	33		27	60		72	19
Governance		98	6		97	8		92	18		94	13		73	44		53	64		75	40		64	56		78	34		100	1		97	8		100	1		100	1		97	8		82	30		48	67		55	62		67	52		46	68		69	48		68	49		57	60		76	36		56	61		100	1		95	12		76	36		83	28		76	36		82	30		91	20		85	26		80	33		68	49		68	49		33	74		39	72		42	70		58	59		66	53		70	47		63	57		50	65		16	75		74	43		83	28		81	32		73	44		75	40		100	1		89	22		84	27		65	55		44	69		55	62		71	46		88	25		66	53		93	16		93	16		91	20		92	18		89	22		98	6		96	11		89	22		75	40		77	35		60	58		50	65		94	13		76	36		36	73		41	71		94	13
Performance		90	9		65	34		61	42		92	6		59	44		41	64		66	31		56	47		48	57		88	11		90	9		91	7		91	7		86	14		65	34		52	53		48	57		56	47		58	45		38	66		52	53		47	59		45	61		53	50		67	28		53	50		77	22		67	28		38	66		67	28		63	38		62	41		61	42		66	31		86	14		52	53		53	50		78	21		77	22		29	71		38	66		47	59		24	73		20	74		64	37		72	25		82	18		66	31		52	53		100	1		44	62		98	2		41	64		36	70		38	66		44	62		63	38		71	26		88	11		88	11		58	45		63	38		77	22		83	17		65	34		69	27		54	49		26	72		19	75		94	3		94	3		94	3		84	16		79	20		80	19
Responsible Investment		94	10		81	32		56	49		79	35		55	50		64	45		26	66		26	66		21	69		97	4		95	8		98	3		95	8		94	10		78	38		69	42		52	54		47	58		80	34		66	43		47	58		19	71		51	57		15	72		85	28		86	26		87	24		79	35		85	28		97	4		89	19		92	13		78	38		61	46		81	32		38	63		33	65		20	70		34	64		85	28		46	60		23	68		40	62		7	74		100	1		91	16		94	10		89	19		88	22		100	1		92	13		79	35		58	47		52	54		45	61		11	73		55	50		52	54		58	47		97	4		92	13		84	31		74	40		96	7		86	26		88	22		70	41		66	43		53	53		89	19		90	17		90	17		54	52		0	75		87	24

Read more on Top1000 asset owner directory

The asset owner directory includes key information about the fund including key personnel,
asset allocation, performance, contact details and an archive of all the stories that have
been written by Top1000funds.com about these investors over a period of more than 10
years, allowing readers to better understand the strategy, governance and investment
decisions of the asset owner.

Fund Insights

Dutch, British and Australian funds latest to back timberland

Dutch, British and Australian funds latest to back timberland

Investors are hunting forestry assets because they combines a large-scale sustainable investment with compelling risk-adjusted, inflation proof returns and diversification. Funds like Nest, APG and AP2 explain their approach.

PPF throws hat in the ring to manage DB pension assets for growth

PPF throws hat in the ring to manage DB pension assets for growth

The United Kingdom’s £32 billion Pension Protection Fund (PPF) is marketing its credentials to act as consolidator for the country’s thousands of DB corporate retirement funds.

Lessons in LDI: It can’t be managed on autopilot

Lessons in LDI: It can’t be managed on autopilot

Chaos in the UK gilt market has put LDI strategies under unprecedented pressure. Pension funds need to re-evaluate their hedging levels before the BofE removes support.

PPF’s Kenneth warns PE investors face tougher times ahead

PPF’s Kenneth warns PE investors face tougher times ahead

The CIO of the United Kingdom's Pension Protection Fund warns that traditional private equity models are no longer going to reap the same return. It's led the fund to explore opportunities in the European mid-market.