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Barnett Waddingham
0333 11 11 222

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.

PPF Levy forum

For further details on the PPF including the latest proposals for changes to the levy please visit our PPF Levy Forum

Related knowledge and resources

Blogs

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    In this issue of News on Pensions we review the latest updates following Budget 2016, along with a round-up of the latest news from The Pensions Regulator and The Pension Protection Fund.

  • Current Pensions Issues Spring 2016

    This edition of Current Pensions Issues includes several actions for trustees surrounding the end of contracting-out, Integrated Risk Management, Persons of Significant Control and PPF Levies.

  • News on Pensions March 2016

    Following the Chancellor's Budget speech we review any pensions-related issues including details of the Lifetime Individual Savings Account (LISA). We also take a look at Pension transfers, early exit charges and the abolition of contracting-out.

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  • Securing pension scheme members in BHS buyout

    We played a critical role in helping secure the pensions of 9,000 BHS staff. Our work for this client has been very much a team approach, with a number of service areas coming together to provide advice and support to achieve a superb result.

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