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PPF launches dedicated Restructuring and Insolvency bank account (20 March 2020)
PPF launches dedicated Restructuring and Insolvency bank account (20 March 2020)

 

20 March 2020

The PPF launches dedicated Restructuring and Insolvency bank account

 

The Pension Protection Fund (PPF) has launched new banking details for Restructuring and Insolvency payments.

The dedicated bank account has been set up to streamline the payment process for a scheme once it has transferred to the PPF.

This applies to amounts due to a pension scheme in relation to dividends from insolvent estates, guarantee payments of pension scheme employer liabilities and loans notes in restructuring deals.

The details of the bank account are:

Account Title:                PPF Insolvency Receipts

Bank:                            HSBC

Sort Code:                     40-41-70

Account Number;          90008028

IBAN:                            GB91MIDL40417090008028

Swift Code:                    MIDLGB22

Reference:                     Pension scheme name

 

Payments for a scheme that is currently in the assessment period should continue to be made to the pension scheme trustees.

Further details on restructuring and insolvency payments can be found on our website:

https://www.ppf.co.uk/payment-dividends-guarantees-or-loan-notes

To confirm your scheme has transferred to the PPF visit our website at: https://www.ppf.co.uk/schemes/index

 

Ends

 

 

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