✓ Correct answer: A. Salary-linked defined benefit schemesThe PPF protects salary-linked defined benefit schemes, ensuring members receive most of their promised entitlements when a scheme is unable to meet its obligations.
Why the other options are incorrect:
• Investment-based defined contribution schemes: Defined contribution pensions, where the outcome depends on investment performance, are not covered by the PPF.
• Government-funded state pension entitlements: State pensions are paid directly by the government and are outside the scope of the PPF.
• Individual personal pension plans: Personal pension plans are individual arrangements and do not qualify for PPF protection.
• Lifetime ISA savings products: Lifetime ISAs are government-backed savings products and fall entirely outside the PPF's remit.
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Theory