Pensions - Articles - PPF issue their coronavirus preparation

 Members

 We want to reassure our PPF and FAS members that we have full contingency plans in place to make sure we’re able to make your regular payments if the COVID-19 outbreak escalates.
 
 As always, if you have any questions or concerns please contact us on the appropriate email address:

 For PPF members -">ppfmembers@ppf.co.uk"> ppfmembers@ppf.co.uk
 For FAS members - fasmembers@ppf.co.uk

  

 Levy payers

 Given the current situation and government guidelines, our requirements for submitting contingent asset documents has changed.

 To reduce any risk, with immediate effect please don’t send us hard copies of documents. You should:

 Email documents to information@ppf.co.uk
 The file size needs to be less than 10MB – you can do this either by ‘zipping’ the file or by splitting the documents into separate emails.
 If you split the documents, please make sure it's clear that they're linked.

  

 Extensions

 We can’t formally approve extensions in advance, because the deadlines are set in our rules. But we understand that key individuals might not be able to finalise documents because they are unwell or in self-isolation.

  

 If you submit your documents after the deadline, we’ll consider the circumstances and where it’s reasonable, we’ll accept them. You’ll need to give reasons for your late submission when you send it.

  

 E-signatures

 For PPF-specific documents, for example officer’s certificates, we’ll accept other forms of confirmation that the form is authorised, such as signatures produced by e-sign software.

  

 For documents that are intended to have legally binding effect beyond the PPF-specific requirements, you should speak to your legal advisors about how to sign the documents validly.

  

 This may include contingent asset agreements or documents to be filed at registries that have other requirements.

  

 Carrying out assessments of contingent assets and asset backed structures in March 2020

  

 To the extent that there are known/expected impacts of COVID-19 that can be estimated you should take account of these.

  

 However, reflecting the material uncertainty over future economic impacts of the virus, and the impact that government responses to it may have, there is no need to make further allowance for this general uncertainty.

  

 Reports should therefore indicate what assumptions have been made, rather than seeking to exclude consideration of COVID-19.

  

 There is no need to revisit assessments already finalised to take account of factors emerging after they were signed off.

  

 Any questions?

 If you need any help with submitting Levy documents, please email information@ppf.co.uk or call us on 0345 600 2541.
 Insolvency practitioners

  

 We are currently unable to accept paper s120 notification submissions. Please only submit submissions via our online notification service.

  

 If you’re unable to make a submission online, please email a copy of the paper form to s120validation@ppf.co.uk. or call us on 0345 600 2541 for any queries.

 If you experience a problem with the online s120 notification service please email websiteupdates@ppf.co.uk and our web team will be able to help you.

  

 Worried about your pension?

 If your employer is experiencing financial difficulty because of the COVID-19 outbreak, and the associated restrictions, you may be worried about what will happen to your pension. Find out whether we protect your pension and what would happen if your employer becomes insolvent.