21 September 2011
The Pension Protection Fund has announced that their estimate of total industry levy for 2012/13 is £550m : the lowest levy that the PPF has ever set (by way of comparison, the 2011/12 levy was £600m).
Importantly, the PPF has also announced a consultation on proposed new rules to govern the levy framework going forwards. The consultation period expires at 5pm on 2 November 2011 and links to the consultation documents and the news release are provided below.
We will be reviewing these and providing our full views on the documents. The adoption of an investment risk based approach to calculation of the levy is a welcome step forward.