How will the levy be calculated for a scheme which hasn’t had to submit a section 179 valuation yet?
For any scheme that becomes eligible on or before 1 April 2008, but hasn’t yet been required to file a valuation or scheme return by legislation or by the Pensions Regulator by midnight on 31 March 2008, we have the discretion to obtain any necessary information from the scheme in order to calculate the levy.
If no information is conveniently available and if it doesn’t appear to the Board of the PPF that the scheme is materially underfunded, we may determine a nil levy.
Published: Thursday, December 20, 2007
Associated Subjects: S179 Valuations;Levy
Associated Roles: Employers;Pensions Professionals;Trustees
Levy Year: 07/08
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