First Briefing, January 2024: PPF update

The Pension Protection Fund (PPF) has confirmed its final rules for the 2024/25 levy year. In this briefing, we summarise key changes to the levy rules and discuss the future of the PPF levy.

First Actuarial case studies

Barnardo’s

Leading UK charity, Barnardo’s, needed to review the group life assurance market as its policy approached renewal. First Actuarial listened carefully to Barnardo’s objectives and negotiated a cost-effective group life assurance premium.

BACB

At London-based British Arab Commercial Bank (BACB), there was an increasing focus on getting a better deal for members of the Defined Contribution (DC) Scheme. First Actuarial helped BACB move the Scheme to a master trust, delivering time and cost savings while improving the member experience.

Standard Group

Independent trustee ZEDRA approached First Actuarial to help take the Standard Group (UK) Pension Scheme through a £26m buy-in and wind-up. First Actuarial supported the Trustee throughout the process, with its end-to-end risk transfer service.