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Financial Assistance Scheme and Pension Protection Fund

Asked by Harriet CrossConservativeDepartment for Work and PensionsTabled Answered 30 March 2026UIN 123023

The question

To ask the Secretary of State for Work and Pensions, for what reason the application of inflationary increases on pre-1997 defined benefit pension entitlements is limited to schemes within the Pension Protection Fund and Financial Assistance Scheme; and whether he plans to extend this policy to other defined benefit schemes.

Answered by Torsten Bell

The Government has brought forward legislation to introduce annual CPI-linked increases, capped at 2.5 per cent, on compensation payments from the Pension Protection Fund and Financial Assistance Scheme based on pensions built up before 6 April 1997. These increases will apply prospectively (i.e. to payments going forward) and where the original scheme rules provided for such increases.

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