Enterprise Risk Management at the UK pension protection fund

- Paper presented to the 2012 ERM Symposium, Washington, DC April 18-20 2012 - The UK Pension Protection Fund (PPF) was established in April 2005 to
protect the pensions of members of UK private sector defined benefit
pension schemes which have insufficient assets and whose corporate
sponsor fails. - The Fund takes over the pension scheme assets and assumes
responsibility for the payment of compensation to the former members of
the scheme. - PPF is funded by a levy on the population of eligible schemes.
- The elements of the enterprise risk management of the Fund have been
developed by reference to practice within proprietary insurance institutions
and other pensions funds; their application to this unique financial vehicle is
the subject of this paper.
- Illustrates the application of ERM principles and techniques to a real world example