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<p>The Pension Protection Fund is a well-established compensation scheme with cross
party support. Without the Pension Protection Fund, most company insolvencies would
mean that members of Defined Benefit pension schemes could be facing significant financial
insecurity in retirement. The Pension Protection Fund was never intended to replicate
scheme benefits in their entirety.</p><p> </p><p>There are ongoing court cases relating
to the Pension Protection Fund compensation and so it would be inappropriate to comment
further until the final judgments have been handed down. Once the litigation is concluded
we will review the position.</p><p> </p>
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