NAPF calls for an even spread of PPF costs

The introduction of a risk-based element of the pension protection levy mentioned in the PPF’s consultation paper, has been welcomed by the NAPF along with the majority of the proposals. But it is concerned about how fairly it will spread the costs incurred from failed schemes that have never contributed to the PPF but which still come under its remit. The organisation argues the costs of compensation should not be met by the risk-based element of the levy as such a move would not be consistent with the PPF’s stated principles of fairness and proportionality. Christine Farnish, chief e...