Pension Protection Fund contingent assets: Coronavirus update

Hogan Lovells

Hogan Lovells

The Pension Protection Fund (PPF) has today issued a helpful statement concerning the practicalities of certifying contingent assets in the current, highly-unusual, circumstances.

In particular:

  • All documents should now be submitted electronically, not in hard copy.
  • For PPF specific documents normally requiring signatures, non-wet ink confirmation (such as signatures produced by e-sign software) that the documents have been authorised will be accepted.  Advice should be taken where the documents are intended to have binding legal effect beyond the PPF -specific requirements.
  • The PPF cannot formally extend its deadlines for submitting documents but is aware that key individuals may be unwell or self-isolating.  It will therefore accept documents submitted after the deadlines where it is reasonable to do so in the circumstances. Any documents submitted late should be accompanied by an explanation for the delay.

[View source.]

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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