The Pension Protection Fund is “well positioned” for future, anticipated risks, it has said.

Offering an update from the PPF at a conference in London today, PPF chief financial officer Andy McKinnon explained how the PPF is “now providing protection that we were set up to provide”.

“The PPF is well placed, stable and financially viable,” he stated.

Discussing the lifeboat’s long-term funding strategy, it was noted that the PPF estimates that it will take very little market risk, by having little interest rate and inflation exposure. It was also said that the PPF expects risk to decline over the next decade.

Moreover, looking to the current financial climate, McKinnon echoed the popular view that it is difficult to predict the impact of Brexit. There are a “wide range of potential outcomes in our scope… and we project to maintain solvency in all of them [all schemes],” he said.

Responding to a question regarding the PPF’s response to the government’s recent green paper, McKinnon noted that the lifeboat is “broadly supportive” of the report’s suggestions.

The PPF said it is in favour of The Pensions Regulator being awarded greater powers to enable it to become “more forceful and more able to intervene” where necessary.

In its annual report last year, the PPF noted that it has 235,000 members, with 128,000 currently receiving payment. Since the body was set up, it has paid over £3bn and now has 896 schemes in the fund. The PPF is due to publish its annual report next week.

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