# The Pension Protection Fund (Valuation) Regulations 2005, Regulation 6: Valuation of protected liabilities

Extent: E+W+S

(1) Subject to regulation 7, in the case of protected liabilities the value of a protected liability shall be—
(a) for a section 143 determination or section 143 valuation, the estimated cost of securing scheme benefits calculated in accordance with Schedule 7 to the Act (pension compensation provisions) to the member by means of an annuity purchased at the best value rate available in the market as estimated by the Board at the relevant time;
(b) for a section 179 valuation, the estimated cost of securing scheme benefits in accordance with any guidance issued by the Board in accordance with section 179(4) of the Act, for the member by means of an annuity purchased at the best value rate available in the market as estimated by the Board at the relevant time.
(2) Where regulation 3(c) applies, the amount representing the value of a protected liability in respect of the benefits secured by a pre-6th April 1997 contract of insurance shall be excluded from the valuation of the eligible scheme’s protected liabilities.

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Source: https://www.legislation.gov.uk/uksi/2005/672/regulation/6 (the official version)
Page: https://openlegislation.uk/pension-protection-fund-valuation-regulations-2005/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.