Finalised contingent asset certification and guidance has now been added to the website of the Pension Protection Fund.
The Board of the PPF has published updated versions of the finalised contingent asset certification, supporting guidance and standard form documentation in the risk based levy section of the website.
Information and documentation available on the site includes all the PPF’s standard form documents and provisions permitting the value of the asset to be reduced or different contingent assets to be substituted, within the rules.
It also explains the guidance relating to the use of the standard forms and the provision of legal opinions and related documents, along with standard form documents relating to security over land in Scotland and Northern Ireland, based on the existing documents for England and Wales.
Although the final decision about the basis on which contingent assets will be treated for 2006/7 will not be decided by the Board until late February, the PPF says it has published the documents to give trustees and employers as much time as possible to make arrangement for the 2006/7 levy year.
But the PPF says it does not anticipate making any further changes to the standard form documentation or certificates and therefore encourages employers and trustees to start putting these arrangements in place as soon as possible, so they are in time for the 31 March deadline.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7968 4558 or email [email protected]IFAonline
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