2014/15 Levy Determination 


On 11 December 2013,  the PPF published the final determination for the 2014/15 levy and associated documents. This comprises of the following:

The 2014/15 Levy Policy Statement

Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2014 – 31 March 2015
Contingent Asset Appendix    
DRC Appendix  
Insolvency Risk Appendix
Investment Risk Appendix 
MFR Conversion Appendix    
Transfers Appendix  
Transformation Appendix    

Levy Practice Guidance
Guidance on Bespoke Investment Risk Calculation
Guidance on Contingent Assets 
Guidance on Block Transfers 

The standard form contingent asset agreements to use for 2014/15 are the same as for last year, and are 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)
Form 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)

 

 

On 5 September 2013, the PPF published the consultation and draft determination for the 2014/15 levy. This comprises the following documents:

The 2014/15 Pension Protection Levy Consultation Document

Draft Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2014 – 31 March 2016
Draft Contingent Asset Appendix    
Draft DRC Appendix  
Draft Insolvency Risk Appendix
Draft Investment Risk Appendix 
Draft MFR Conversion Appendix    
Draft Transfers Appendix  
Draft Transformation Appendix    

Draft Levy Practice Guidance
Draft Guidance on Bespoke Investment Risk Calculation
Draft Guidance on Contingent Assets 
Draft Guidance on Block Transfers