Roger Wakelam Posted October 12, 2023 Report Share Posted October 12, 2023 For anyone who is in the Government Pension Protection Fund (PPF). The Government Pension Protection Fund (PPF) was set up by the government in 1997 to protect employees’ pensions when the company they worked for went bust. It was set up after Robert Maxwell stole the Mirror Group pension fund. The Protection Fund does not provide for any inflation for pension earned prior to 1997. There is now a campaign to tackle this issue. A Crowd Funded Scheme has been set up in order to seek a judicial review to get the law changed and remedy this injustice. There are 260,00 members of the PPF scheme, many of whom may not be aware of the current campaign to remedy this situation. Details of the campaign are on the following website Deprived Pensioners Association (DPA) http://www.deprivedpensioners.org/ . Hopefully this is of some help. Quote Link to post Share on other sites
SuzanneH Posted October 12, 2023 Report Share Posted October 12, 2023 (edited) 1 hour ago, Roger Wakelam said: For anyone who is in the Government Pension Protection Fund (PPF). The Government Pension Protection Fund (PPF) was set up by the government in 1997 to protect employees’ pensions when the company they worked for went bust. It was set up after Robert Maxwell stole the Mirror Group pension fund. The Protection Fund does not provide for any inflation for pension earned prior to 1997. There is now a campaign to tackle this issue. A Crowd Funded Scheme has been set up in order to seek a judicial review to get the law changed and remedy this injustice. There are 260,00 members of the PPF scheme, many of whom may not be aware of the current campaign to remedy this situation. Details of the campaign are on the following website Deprived Pensioners Association (DPA) http://www.deprivedpensioners.org/ . Hopefully this is of some help. It wasn’t only The Mirror Group Pension Fund that Robert Maxwell stole. He was The Chairman of Audits of Great Britain Ltd ( Market Research) who had their own publishing company also, Pergamon Press. I, very luckily left AGB in Nov 1980 on maternity leave stating I had no intention of returning although the law had just changed enabling me to have my job kept open. I escaped my pension being stolen by Robert Maxwell by the skin of my teeth but many of my Director colleagues did not. Edited October 12, 2023 by SuzanneH Quote Link to post Share on other sites
james christie Posted October 12, 2023 Report Share Posted October 12, 2023 Interesting this as it’s a current issue here, even if the pension set up is very different from the UK. The French government is getting into financial difficulties with paying the enormous pensions to its retired civil servants and other public sector workers many of whom retire in their fifties! The private sector retirement funds are currently fairly flush with money as the employment rate is improving, pension rates are a function of what you have paid in. The result of which is that the government wants to raid these funds to bail itself out of its own mess ! On the other hand when times were hard 15 years ago, and the private funds were in difficulty, when they asked for help they were told to go and fly a kite! james Quote Link to post Share on other sites
Dic Doretti Posted October 12, 2023 Report Share Posted October 12, 2023 More effort should be made to retrieve the missing funds rather than rely on the poor old taxpayer to cover the loss effectively subsidising the criminals. Cheers Richard Quote Link to post Share on other sites
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