PPF levy set to rise following '06/07 shortfall

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The pensions protection levy is likely to climb again in 2008 after the Pensions Protection Fund (PPF) collected less than half its estimate in levies for 2006/7, according to Mercer.

The firm says annual accounts released by PPF last week show it expected to receive £575m in levies during the 2006/7 levy year, but only collected £271m. As a result, it says, only 60% of the levy collected...

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