Pension Protection Fund swings back to black recording a £400 million surplus

The PPF is no longer in debt. A PPF report shows that the fund is free from its massive deficit. The Pension Protection Fund (PPF), created to safeguard the pension schemes of collapsed companies, recorded a £400 million surplus last year against a £1.2 billion deficit in 2008-2009, according to its annual report. The pensions lifeboat saw a rise in the ratio of its assets to liabilities from 88% to 103%.