...........but even if your Final Salary pension is below the PPF annual limit you will still lose 10% of your annual pension once the PPF take on the liability from the employer.
I do agree with you, squeaker, that the closure of the Monarch DB pension was a blessing in disguise as it allowed the individual (if young enough) to start amassing a DC pension that is a lot easier to control and less exposed to thieving b@5*@rds.
The upside of the PPF is, in theory, it should be as safe as anywhere as it is protected by the government.