Working at Pension Protection Fund | Glassdoor.co.uk

Pension Protection Fund Overview

Croydon, England
201 to 500 employees
2004
Non-profit Organisation
Insurance Operators
£500 million to £1 billion (GBP) per year
We protect millions of people throughout the UK who belong to defined benefit pension schemes.
If a pension scheme’s employer becomes insolvent, and they can’t afford to pay their members their promised pensions, we’ll compensate them ... Read more

Mission: Our mission means making sure we can protect people with a defined benefit pension when an employer becomes insolvent, today, tomorrow and for as long as they need us.

ICARE values
We strive to do the best work we can do and we value integrity ... Read more

Pension Protection Fund – Why Work With Us?


In brief, the Pension Protection Fund’s main function is to provide compensation to members of eligible defined benefit pension schemes, when there is a qualifying insolvency event in relation to the employer, and where there are insufficient assets in the pension scheme to cover the Pension Protection Fund level of compensation.

The Pension Protection Fund is a statutory fund run by the Board of the Pension Protection Fund, a statutory corporation established under the provisions of the Pensions Act 2004.

To help fund the Pension Protection Fund, compulsory annual levies are charged on all eligible schemes.

Investing the assets of the Pension Protection Fund effectively is a further key function of the organisation.

The Pension Protection Fund is also responsible for the Fraud Compensation Fund - a fund that will provide compensation to occupational pension schemes that suffer a loss that can be attributable to dishonesty.

A Head for Pensions. A Heart for People.

Thousands of people depend on the Pension Protection Fund to pay them compensation for the money they lost when their pension scheme collapsed.

We protect millions of people throughout the country who belong to defined benefit, eg final salary, pension schemes.

Over 235,000 people are currently receiving compensation, and many more will do so in the future.


Our ICARE values define the way we work and we measure our performance against them.

The ICARE values define how the PPF wishes to conduct itself and how we expect our employees to behave. They represent the type of culture  we wish to foster within the organisation. Integrity, collaboration, accountability, respect and excellence underpin everything we do and ensure we perform to the best of our abilities in achieving our mission and vision.

Integrity – doing the right thing 

Collaboration – working as one

Accountability – own your own actions

Respect – value every voice

Excellence – be your best

To celebrate and emphasise our commitment to the ICARE values, we hold ICARE awards where employees nominate a colleague who has shown particular excellence in their behaviour and results. Employees can also give token immediate recognition awards any colleague who has exemplified our values.

Working with us to realise our vision, we will ensure that your professionalism, dedication and enthusiasm is rewarded.

As well as the usual benefits – 26 days annual leave, discretionary performance related bonus and flexible working – we also operate a performance management system which aims to get the most out of people, allowing personal development and talent to flourish. Plus we offer a defined benefit pension to all our employees with generous employer contributions, and the option to join a defined contribution pension scheme instead.

Being part of the PPF is a chance to work in a unique environment: one that is stimulating and provides scope for all employees to invest in their personal growth. You will also learn a great deal about a diverse business that encompasses many professions and skill sets and have the opportunity to help shape the pensions landscape in the UK.

We also hold regular social and fundraising events with a busy corporate responsibility programme that supports national and local good causes. Our ‘volunteering’ days are very popular, and recently PPF staff have served Christmas dinner at a local community centre and decorated parts of a children’s centre.

PPF employees are also entitled to five days’ volunteering leave, which can be taken in conjunction with events organised by us, or externally.

 

Diversity

We're committed to the promotion of diversity and inclusion to ensure that the talent,skills and expertise of all employees is maximised.

Our policies and procedures aim to ensure that we do not unlawfully or unfairly discriminate against individuals on the grounds of their their race, national or ethnic origin, disability, age, gender, sexual orientation, transgender identity or religion/belief.

We're proud to be part of the Disability Confident Scheme that recognises our success in employing and retaining disabled people and those with health conditions.

Our commitment under the scheme is to continue and build upon the support we provide both for candidates and employees with disabilities or health conditions.

 

Apprenticeship Scheme

To support the government's target of three million new apprenticeships by 2020, we’ve aimed to have at least 2.3% of our employees participating in an apprenticeship scheme.

Apprenticeships are open to all, there's no age limit. For our entry level apprenticeships, we look for the right attitude and behaviours rather than work experience.

Visit our website to find out more. https://ppf.co.uk/current-vacancies

Our investment team is made up of experienced professionals from across the asset management, insurance and banking communities. If you want to join our team and find out why the PPF is a great place to work, watch this video to find out more about our investment team.

Pension Protection Fund Reviews

  • Featured Review

    "Great place to work at, thoroughly recommend this organisation"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Croydon, England
    Current Employee - Anonymous Employee in Croydon, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Pension Protection Fund full-time (Less than a year)

    Pros

    Morale is positive within the company
    Atmosphere is nice and relaxed, not too pressured environment.
    Work life balance is good

    Cons

    None so far since working here

See All 64 Reviews

Pension Protection Fund Photos

Pension Protection Fund photo of: Playing pool in the break room
Pension Protection Fund photo of: Different tools for work
Pension Protection Fund photo of: Explaining the findings
Pension Protection Fund photo of: Exchanging ideas
Pension Protection Fund photo of: Helping a PPF member
Pension Protection Fund photo of: A bit of friendly banter
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Pension Protection Fund Interviews

Experience

Experience
75%
8%
17%

Getting an Interview

Getting an Interview
91%
9%

Difficulty

2.9
Average

Difficulty

Hard
Average
Easy
  1. Featured Interview

     

    Web Content Editor Interview

    Anonymous Interview Candidate in Croydon, England
    No Offer
    Positive Experience

    Application

    The process took 1+ week. I interviewed at Pension Protection Fund (Croydon, England) in September 2019.

    Interview

    Welcoming attitude, prompt communication and interview structure was set out in advance so I could prepare for the writing test. Post-interview feedback was helpful, even though I was unsuccessful in getting the role.

    Interview Questions

See All 12 Interviews

Pension Protection Fund Awards & Accolades

  • Alternatives Team of the Year, Alternative Investments Institute Peer-to-Peer Awards, 2019
  • Administrator of the year - Elaine Wiscombe, Professional Pensions Women in Pensions, 2019
  • Training Scheme of the Year, Professional Pensions Rising Star Awards, 2019
  • Pensions Administration Award, Pensions Age Awards, 2020
  • Rising Star Awards, Professional Pensions, 2020
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