Trustees of DB schemes must plan for a new long-term future for their members, as the traditional journey has changed.
The PPF has released its 2019/20 PPF levy consultation, setting out its plans for calculating the levy to be invoiced in autumn 2019.
The Pensions Regulator released its 2018 annual funding statement, and once again risk management was high up its agenda. This is perhaps not surprising in light of recent high profile employer insolvencies and the resulting reduction in member benefits.
The headline news is that the PPF is expecting to collect a total levy that is 10% lower than last year, reflecting the PPF’s strong financial position. So, what changes will there be and what do we need to do? The blog explores more.
The Pension Protection Fund (PPF) has released a consultation setting out its proposals for the 2018/19-2020/21 levy triennium. Overall the PPF’s proposals are intended to result in a fairer distribution of the PPF levy between pension schemes.
Barnett Waddingham highlights some actions that can still be taken to manage the size of your Pension Protection Fund levy before the 31 March 2017 data deadline, including one or two new methods introduced by the PPF.
The PPF’s latest Purple Book reveals a fall in PPF-compliant contingent assets, driven by the PPF’s more robust approach to certification. Alternative approaches to reducing risk include security over assets and cash contributions.
The PPF is proposing a transitional adjustment where companies would otherwise see an increase in their levy solely as a result of the move to the FRS102 accounting standard. We explain this, and other proposed changes to the PPF levy rules.
The Pension Protection Fund (PPF) has given an early indication of the changes that it intends to make as part of its three-yearly review of the PPF levy rules, with a particular focus on the Experian model used to calculate insolvency risk.