The Pension Protection Fund has published its updated management plan, setting out its strategic objectives and plans for reducing risk in the pension system. It has also published its business plan for 2007/08, laying out the key actions it is planning for the next two years.

This comes on the back of the PPF’s announcement on 24 May that it would not be including investment strategy as a separate risk factor in its risk-based levy, following consultation with the pensions industry earlier this year.

The PPF has said that its priorities for the next year include: transferring schemes efficiently through the assessment period into compensation; an enhanced programme of communications for pension scheme members; providing stability to levy payers in terms of the levy itself; and implementation of the PPF’s liability-driven investment strategy.

The PPF’s chief executive Partha Dasgupta said: “We remain committed to providing security for the pension system. We will continue to work with our stakeholders to encourage risk reduction to minimise the number and size of claims made on us. We’ll also be improving the way we work with scheme trustees to ensure scheme members get the best possible protection.”

The PPF was established in April 2005 to compensate members of final salary pension schemes whose employers had gone bust. Both its new business plan and management plan can be found at www.pensionprotectionfund.org.uk for those interested.