UK’s Hunt to unveil expanded role for Pension Protection Fund – FT

(Reuters) – British finance minister Jeremy Hunt is expected to launch a consultation on a widened role for the Pension Protection Fund (PPF) in his Autumn Statement next week, the Financial Times reported on Thursday.

Under the proposals, the fund would take on an additional role as a consolidator of smaller defined benefit pension schemes attached to healthy companies.

The Pension Protection Fund is a 39 billion pound ($48 billion) lifeboat fund for the pension schemes of troubled companies

Hunt on Thursday also announced incentives and sanctions aimed at tackling the soaring levels of inactivity among working-age people in Britain.

($1 = 0.8052 pound)

(Reporting by Urvi Dugar in Bengaluru; Editing by Toby Chopra)