PPF could seek special levy for DB consolidators

'Appropriate risk-based levy charge' would be considered

James Phillips
clock • 2 min read

Defined benefit (DB) consolidation vehicles may be subject to a special levy if they are deemed eligible for the Pension Protection Fund (PPF) in the event of a failure.

The lifeboat fund said an "appropriate risk-based levy charge" would be considered if members in such consolidators, also known as ‘superfunds', were able to claim compensation under legislation. Giving evidence to the Work and Pensions Committee's (WPC's) inquiry into the government's DB white paper today (6 June), PPF chief executive Oliver Morley said: "The way a superfund could be designed could mean it was automatically compliant with the [existing] legislation and eligible for PPF compensation. Assuming it is, then we would want to make sure that the levy that was applied reflected...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Pensions

Women's retirement income outlook improves but 'faster' change needed

Women's retirement income outlook improves but 'faster' change needed

Most women still on track for minimum retirement standard or worse

Alex Levy
clock 10 November 2026 • 3 min read
Why the pensions dashboard could raise more questions than it answers

Why the pensions dashboard could raise more questions than it answers

The 31 October connection deadline was a 'starting gun rather than the finish line'

Robert Holford
clock 09 November 2026 • 4 min read
Pension Lab processes more than one million digital LoAs

Pension Lab processes more than one million digital LoAs

Challenge around ‘standards for consistency’

Sophia Panayi
clock 06 November 2026 • 1 min read