PPF partners with Aviva on hybrid scheme solution

The Pension Protection Fund (PPF) has selected Aviva to provide a defined contribution (DC) solution for its hybrid members.

The PPF protects 9.6 million members of eligible defined benefit (DB) pension schemes in case of employer insolvency, including some schemes known as hybrid schemes, which have both a DB and DC element to them.

Members’ DC pension benefits within these hybrid schemes will now be protected by the Aviva Master Trust.

Commenting on the appointment, Aviva director of workplace savings and retirement, Emma Douglas, stated: “We’re pleased to have been chosen by the PPF as their trusted DC pension provider.

"It’s important that members’ benefits are moved swiftly and efficiently to give savers certainty as to the payment of their pension benefits.

“This new partnership demonstrates our commitment to innovating for workplace pension customers and employers and growing the Aviva Master Trust.”

PPF director of scheme services, Matt Bayman, added: “We look forward to working with Aviva who, through their master trust solution, will ensure that we can efficiently transfer schemes and, most importantly, help us to achieve the best results for members both inside and outside of the PPF.”

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