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PPF Levy Advice
The introduction of the Pension Protection Fund (PPF) has added an additional expense to running a defined benefit pension scheme. The levy is often a significant amount and hopefully your scheme will never benefit directly from it.
Although the PPF levy invoice will be addressed to the trustees the cost will ultimately fall on the employer. Therefore, it is important for employers to explore every possible option for minimising the levy. Many of these options are very simple but can lead to a significant and worthwhile saving to the employer.
When considering some of the more sophisticated options, such as putting in place a contingent asset, it is important that the employer takes professional advice. All relevant matters need to be considered - financial as well as other, less quantifiable issues - as well as possible unintended consequences. Our advice is based on considerable experience in this area and an in depth understanding of the calculations that will be carried out by the PPF in determining your levy.
An important element of the PPF levy calculation is the Dun & Bradstreet (D&B) failure score. At Barnett Waddingham we have built up considerable expertise in helping companies improve their failure score. Click
here for a link to a leaflet highlighting our services in this area.
For further details on the PPF including the latest proposals for changes to the levy please visit our special website
www.thelevyforum.co.uk