The PPF protected liability is the level of compensation that would be paid if the scheme were transferred to the PPF, it can either be the complete actuarial valuation according to section 179 of the Pensions Act 2004 or the adapted MFR ( minimum funding requirement ) liability, and normally it should be smaller than the true pension liabilities given by FRS 17 or IAS 19 liabilities.
12.
Since the 2015 budget, the Federal Government has allocated funds for a new ICT system which is a pre-requisite for introducing a simpler income support system; the Priority Investment Approach contracting PWC to complete an actuarial valuation of the groups at risk of lifetime dependence on income support; $ 100 million funding for a Try, Test and Learn Fund; simplification of child and youth payments; and support for social impact investment in affordable housing.
