APT·FUNDING · Module 4: Funding, Benefits and Member Protection·UnitFUNDING · Unit 05Access: Premium

Unit 4.5: Transfers, Discretions and the Pension Protection Fund

Unit 4.5 covers what happens at the edges of a scheme. It takes in transfers out of a defined benefit scheme and the cash equivalent behind them, the discretionary powers trustees hold and how those are exercised, both marked DB only in the syllabus, the nature and status of professional advice and what trustees may and may not rely on, and the Pension Protection Fund, which pays compensation to members of eligible defined benefit schemes when the employer becomes insolvent and the scheme cannot secure benefits above PPF levels.

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