The UK's Pension Protection Fund, which absorbs failed companies' pension schemes, is set to become one of the largest single funds in the country in the next three years - and cut fund manager fees by £7m a year as it insources investments.
The PPF said today, June 15, that it expects its assets to rise by £10bn in the next three years, to stand at £32bn by 2020. That is bigger than all but a handful of pension funds in the country.
