These pages contain information about the Pension Protection Levy, which the PPF raises annually, and is paid by eligible schemes. Latest developments are featured below, and more information can be found in the subsections listed to the right of this page. Latest News - 20 NovemberThe Pension Protection Fund today confirmed that it has set a pension protection levy estimate of £700 million for 2009/10. This fulfils a promise made in August 2007 when the PPF said that it would set a levy estimate of £675 million for the next three years, indexed to wages, so long as there was no significant change in risk. This announcement follows consultation with stakeholders and confirms the key proposals announced by the PPF in September 2008 – but reflects changes in response to comments on a proposal to expect that material block transfers be reported. The PPF has published the final version of the 2009/10 Determination under section 175(5) of the Pensions Act 2004, which sets out the rules for calculating the pension protection levy. Conclusions on the 2009/10 Pension Protection Levy Consultation
Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2009 – 31 March 2010
18 November
The Pension Protection Fund today unveiled proposals which make the pension protection levy paid by eligible pension schemes more tailored than ever before to the individual risk those schemes pose to the PPF.Two key features of the proposals are to: - assess the probability of a scheme’s sponsoring employer going bust during a five year period – as well as separately assess the probability of it going bust during a one year period, as now, and
- take account of the risk that a scheme’s investment strategy poses to the PPF when calculating its individual levy.
Consultation on the Future Development of the Pension Protection Levy
Consultation on the Future Development of the Pension Protection Levy - Annexes
25 September 2008 The PPF has today published a consultation document outlining its proposals for the 2009/10 pension protection levy including the proposed Levy Estimate and Levy Scaling Factor. A draft determination, containing the technical rules for calculating the levy, has been published alongside it. The consultation will last four weeks. The 2009/10 Pension Protection Levy Consultation Draft Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2009 – 31 March 2010
30 May 2008 - Levy Scaling Factor
In respect of the financial year 1 April 2008 - 31 March 2009 the levy scaling factor shall be 3.77 and the scheme based levy multiplier shall be 0.000165 in accordance with the Board of the Pension Protection Fund's determination under section 175(5) of the Pensions Act 2004 View the levy scaling factor press release
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