The pension protection levy, paid by work-based pension schemes to help protect their members, could be set for three levy years between 2008 and 2011.
This is if plans contained in a consultation launched today by the Pension Protection Fund (PPF) are approved. The move comes in response to levy payers who have called for greater stability in both the levy estimate and their individual levy bills and for more advance notice of what their bills might be. To achieve this, the PPF proposes maintaining a stable levy estimate, index-linked, for the next three levy years, subject to there being no significant change in long term risk. Dates when insolvency and underfunding risk are calculated, and all data is collected, will be brought forwar...
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