Increased PPF levy to hit 5% of schemes

Part of the Xafinity group, Entegria, a consulting and administration service, says the announcement that the PPF is to charge schemes £675m instead of the expected £300 -320m, is bad but not unexpected news, as it is the sort of increase the pensions industry had expected. Pat Wynne, director of Entegria, says this time last year the PPF estimated a levy of £575m based on market conditions, but as the final levy took into account developments up to 31 March 2006, he says market gains and employers making efforts to improve their Dun & Bradstreet failure scores through better business pr...