2010-11 Levy Determination 


On 18 December 2009, the PPF published the final determination for the 2010/11 levy. This comprises the following documents:

Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2010 – 31 March 2011, including the Rules 

Transformation appendix
MFR conversion appendix
DRC appendix
Contingent asset appendix
API appendix
Transfers appendix

At the same time, the PPF published Levy Practice Guidance

The PPF has also issued Contingent Asset Guidance and also published were final versions of the standard form contingent asset agreements as set out below:

Form of Type A contingent asset - group company guarantee
Form of Type B(i) contingent asset - security over cash
Form of Type B(ii)EW contingent asset - security over real estate (England and Wales)
Forrm of Type B(ii)S contingent asset - security over real estate (Scotland)
Form of Type B(ii)NI contingent asset - security over real estate (Northern Ireland)
Form of Type B(iii) contingent asset - security over securities
Form of Type C(i) contingent asset - letter of credit/bank guarantee (evergreen)
Form of Type C(ii) contingent asset - letter of credit/bank guarantee (reducing balance)

 

 

 

 

 

 

The documents below were published on 30 September 2009. This is the draft determination and associated documents. These documents have now been superseded by those listed above, and are reproduced here for information.

 

Draft Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2010 – 31 March 2011, including the Rules 

Draft Transformation appendix
Draft MFR conversion appendix
Draft DRC appendix
Draft Contingent asset appendix
Draft API appendix
Draft Transfers appendix

At the same time, the PPF published Draft Levy Practice Guidance

It also published updated drafts of the standard form contingent asset agreements as set out below.  All of the drafts are blacklined to show proposed changes to the current (September 2006) forms.

Draft updated form of Type A contingent asset - group company guarantee
Draft updated form of Type B(i) contingent asset - security over cash
Draft updated form of Type B(ii)EW contingent asset - security over real estate (England and Wales)
Draft updated form of Type B(iii) contingent asset - security over securities
Draft updated form of Type C(i) contingent asset - letter of credit/bank guarantee (evergreen)
Draft updated form of Type C(ii) contingent asset - letter of credit/bank guarantee (reducing balance)