Pension schemes rescued
05/09/2008
Another 15 insolvent pension schemes were taken over by the Pension Protection Fund (PPF) in August.
The PPF said this brought to 57 the number of schemes that it had rescued since it was established in 2005.
It means that 15,935 people are now receiving their pensions from the fund, or will do so soon.
The pension protection fund is a scheme designed to bail out insolvent pension schemes where the employer has gone bust.
Although set up by the government, it is partly financed by a levy on all private sector final salary occupational pension schemes.
