All PPF levy articles
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NewsPPF confirms main levy bill of zero for 2025-26
he Pension Protection Fund will not charge a scheme-based or risk-based levy in 2025-26, it has confirmed, as the Pension Schemes Bill brings in new flexibilities.
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NewsBell pledges to scrap PPF admin levy through Pension Schemes Bill
Pensions minister Torsten Bell has pledged to abolish the Pension Protection Fund’s administration levy after an industry campaign against the charge.
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NewsSPP pushes for bill amendment to scrap PPF admin levy
Liberal Democrat MPs Steve Darling and John Milne have tabled the amendment to the Pension Schemes Bill, aimed at ensuring the PPF can pay costs from its existing reserves rather than charging defined benefit pension schemes.
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NewsCall for levy reform as pension schemes hit with ‘surprise’ £15m PPF bill [updated]
Pensions UK is calling for urgent government action after DB pension schemes were unexpectedly billed for an administration levy connected to the PPF, with the largest schemes facing bills of hundreds of thousands of pounds.
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OpinionMore work needed on PPF levy: Railpen
The planned reduction in the PPF levy is a welcome reform, but there’s still work to do, argues Railpen’s pensions policy manager Tim Miller.
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NewsDWP to consider changes to PPF levy [updated]
The next PPF levy bill could be smaller or even zero, after the DWP agreed to consider changes to the levy rules.
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NewsPensions industry supports delay to PPF decision on 2025-26 levy
The Pension Protection Fund (PPF) has delayed the final decision on its 2025-26 industry levy until the end of January as it lobbies for the ability to reduce payments to zero.
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NewsIndustry calls for change to levy rules as PPF seeks to raise £100m
Current rules mean the PPF cannot stop taking a levy without compromising its ability to raise capital in the future.
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NewsPensions industry urges for levy change as PPF halves 2024/25 estimate to £100m
The Pension Protection Fund (PPF) said it had been able to reduce the levy from an original estimate of £200m to £100m in the financial year 2024/25, but industry watchers are urging for a change in the law to allow the amount to reflect improved scheme funding.
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NewsPPF confirms levy reduction and methodology changes
Defined benefit schemes will see the levy paid to the Pension Protection Fund reduced by £420mn in two years, as the lifeboat fund confirms tweaks to its methodology and further work to make legislative changes.
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NewsPPF to slash levy by more than £400mn in two years
The Pension Protection Fund is to slash its levy by more than £400mn by 2023-24, after a review found strong investment performance and a reduced risk of claims.
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NewsUnite calls for pension protection in Bournemouth Transport deal
On the go: The trade union Unite has called on the prospective new owners of Bournemouth Transport to commit to protecting jobs and pensions.
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NewsPPF to cover costs of scheme Fraud Compensation Fund claims
The Department for Work and Pensions is consulting on regulatory amendments that would allow the Pension Protection Fund to make interim payments to cover scheme fees and costs during Fraud Compensation Fund claims, and remove a loophole regarding child dependants.
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NewsPPF fulfils strategic priorities and may lower the levy
On the go: The Pension Protection Fund has handed out £1.1bn in member payments in the past year, having successfully met its five strategic priorities — and it may now be in a position to consider bringing down the PPF levy as part of a focus shift towards financial resilience.
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NewsGovt writes off £483,000 as Aon completes Maxwell scheme wind-up
Aon has overseen the wind-up of the AGB Pension Scheme, the last of the so-called “Maxwell pension schemes” supported by Aon Trustees Limited, with the aid of a £483,294 write-off by the government.
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NewsDWP spends £13mn in arrears to FAS members due to court cases
The Department for Work and Pensions is estimating a total cost of £13mn in arrears paid to Financial Assistance Scheme members due to the implementation of recent court cases, its annual report and accounts have revealed.
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NewsOpperman rebuffs Timms’ FAS criticism
On the go: Prior to his resignation, pensions minister Guy Opperman rejected Work and Pensions Committee chair Sir Stephen Timms’ criticisms over the Financial Assistance Scheme compensation cap.
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NewsPPF to reassess levy structure as part of funding strategy review
The Pension Protection Fund will conduct a full review of its levy methodology calculation over the next three years — with the goal of reducing scheme payments — as part of a revised funding strategy.
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NewsTimms questions compensation cap on Financial Assistance Scheme
On the go: Stephen Timms MP, chair of the Work and Pensions Committee, has written to pensions minister Guy Opperman seeking clarity over the compensation cap placed on the Financial Assistance Scheme.
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NewsPPF sets increase cap for risk-based levies due to Covid-19 impact
On the go: The Pension Protection Fund has announced its final levy rules for 2022-23, which include a new 25 per cent cap on increases to its risk-based levy to protect schemes whose bills would otherwise rise significantly.