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Breaking News
March 2010 - PPF Levy Steering Group: Long Term Proposals
In 2009, the PPF set up an independent steering group to consider how the PPF levy should be calculated in the future. The steering group has published its recommended principles which are summarised here.
January 2010 – 2011/12 Levy: Insolvency Risk – UPDATE
Following its earlier consultation (click here for more details), the PPF has published its policy statement on how the risk of sponsoring employer insolvency is to be reflected in levy calculations from 2011/12. The final policy is as set out in the PPF’s November 2009 consultation.
January 2010 - Revised PPF Contingent Asset Guidance
The PPF has issued revised guidance for Schemes with PPF compliant contingent assets. For more details click here.
December 2009 – 2010/11 Levy Determination
The PPF has published its final levy determination, confirming how levies for 2010/11 will be calculated. For more details click here.
November 2009 – 2011/12 Levy: Insolvency Risk
The PPF has published a consultation document on the way in which the risk of sponsoring employer insolvency is reflected in levy calculations from 2011/12. If adopted, the proposals will affect failure scores from 31 March 2010. For more details click here.
November 2009 – Crown Guarantees
The Department for Work and Pensions (DWP) has issued draft regulations which could remove the partial exemption from PPF levies currently afforded to British Telecom (BT) and other commercial companies with a defined benefits (DB) pension scheme and a Crown guarantee. The draft regulations are under consultation until 4 December 2009.
In February 2009, the European Commission decided that BT’s partial exemption amounted to “incompatible State aid” and gave the company an unfair competitive advantage.