PPIABPensions Protection Investments Accreditation Board (UK)
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The PPIAB, which is financed by the pensions industry, said that so far 50 organisations speaking for nearly 85 per cent of the market have committed themselves to gaining and maintaining accreditation.
The PPIAB will issue an Annual Report reviewing the scheme's effectiveness, and will advise the Industry Standards Group, the body responsible for setting the standards, on changes and improvements where appropriate.
Sir Michael Bett, Chairman of PPIAB, said: ``This groundbreaking initiative to raise standards offers real benefits for consumers.