Pension Protection Fund
Lords · Question HL14249 · Tabled 3 Feb 2026 · Department for Work and Pensions · Official record
Answered 12 Feb 2026
Question
Asked by Lord Wigley
To ask His Majesty's Government what estimate they have made of the current surplus in the Pension Protection Fund; and what assessment they have made of the adequacy of that surplus to meet the demands on the fund.
Answer
Answered by Baroness Sherlock, 12 Feb 2026
As of 31 March 2025, the PPF has built up a reserve of around £14.1 billion. This is a reserve and not surplus funds. While the risks that the PPF faces are lower given improved Defined Benefit (DB) scheme funding levels, this reserve provides security fo...