FAQs on Banking


The quickest and easiest way to change your bank details is online using our member website. If you've not yet created an account, please register.

You can also change your bank details by contacting us using the information below. 

Send us a letter:
Pension Protection Fund
PO Box 254
NR18 8DN

Give us a call:
0330 123 2222

Changes in bank details can't always be done immediately, so please give us at least 14 days' notice before your next payment due date.

We will send you a P60 shortly after the end of each tax year. This will let you know the total  payments you have received and the amount of tax deducted. Please keep this document safe.

You can find copies of all your P60s on the member website. Register an account to view your P60s and print copies at home.

You can find copies of all your P60s on the member website.

You can also request a copy by calling us on 0330 123 2222. Or writing to us at:

Pension Protection Fund
PO Box 254
NR18 8DN

Compensation payments are not subject to National Insurance contributions.

If the bank change has not taken place through the Switch Service and your old account has been closed, it is likely that your old bank will return your payment to us. In these circumstances, please contact us on 0330 123 2222 so we can discuss how it can be best paid to you.

If you have made your bank account change through the Current Account Switch Service, your bank will redirect your payments to your new account automatically.

Please make sure however, that you have sent us your new bank account details so that we can update our records. Either your old or new bank should be able to advise whether the switch has occurred through the Switch Service if you are not sure.

There are two ways to do this:

  • If your relative holds a lasting or enduring Power of Attorney, please send us a copy of the legal document so that we can note this in our records. Once we've seen this, we’ll be able to discuss your compensation payments with them.
  • Alternatively, you can write to us with details of the person you’re happy for us to share information with. You will also need to tell us what information you’re happy for us to share with them. 

Yes we can pay your PPF compensation to an overseas bank account. The details will then be received and processed by our admin team and your details will be updated online as soon as this is completed. This could take a few days.

We do not charge for overseas payments, but our overseas payment provider does reduce the exchange rate by a small margin for overseas currencies. You will also need to discuss this with your overseas bank to see if they will make any additional charges. If you’ve chosen to receive your payments in another currency please bear in mind that the exchange rate may go up or down.

PPF pay compensation in pounds sterling to our overseas provider. Please let us know if you'd like to choose to receive your payments in another currency