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Your next levy invoice
The PPF issued invoices for the 2010/11 financial year in late 2010. The invoices for the 2011/12 financial year will be issued in late 2011/early 2012. The levy will be calculated based on the following information: - Levy related data on the Scheme Return entered on the Pensions Regulator's Exchange system up to 31 March 2010
- D&B failure score(s) as at 31 March 2010
- S179 valuation results submitted on or before 31 March 2010
- Contingent assets certified/recertified on or before 31 March 2011
- Deficit reduction contribution certificates submitted on ore before 7 April 2011
- Full block transfers notified to the PPF on or before 7 April 2011 and certified by 30 June 2011.
The invoice will set out the information used to calculate the levy and you should check that this is correct. Any queries on the invoice must be raised within 28 days of the invoice being issued. If you believe there is an error in the failure score used in the calculation you should contact D&B, but all other queries can be directed to the PPF. The PPF will start to charge interest on the levy invoice from 28 days after it is issued, therefore prompt payment / investigation is essential.
Full details of the formula used can be found here.