Member

While risks faced by the PPF are lower given improved scheme funding levels, the reserve that it has built up provides security for its current members and the nearly 9 million members of DB schemes that it protects. The reserve remains essential for it to manage any future challenges and to fulfil its role as the ultimate backstop to the nearly £1 trillion of liabilities in DB schemes, a part of which is still open and accruing benefits. Historically, the PPF has supported nearly £10 billion in claims, funded in part by the amount collected through levies. Without future levies, the reserve must cover upcoming claims.