Problems could lie ahead for schemes seeking to qualify as 'last man standing' when completing their annual scheme returns. 

LMS multi-employer schemes are eligible to pay a reduced Pension Protection Fund levy because the insolvency of an individual employer will not result in the related part of the scheme being passed on to the PPF.

But pensions lawyers have identified a discrepancy between documents issued by the PPF and the Pensions Regulator regarding the classification of multi-employer schemes as such.

There is currently a misalignment between criteria laid out by the PPF in its levy determination for 2015/2016 and a subsequent policy statement, both released in December last year.

Robert West, partner at law firm Baker & McKenzie, said: “There is some uncertainty as to whether schemes categorized in the past as last man standing will necessarily qualify… this time around.”

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