2015/16 Levy Determination 


On 18 December 2014, the PPF published the final determination for the 2015/16 levy and associated documents*. This comprises of the following:

The 2015/16 Levy Policy Statement

Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2015 – 31 March 2016
ABC Appendix
Contingent Asset Appendix   
DRC Appendix 
Insolvency Risk Appendix
Investment Risk Appendix

MFR Conversion Appendix 
Transfers Appendix 
Transformation Appendix   

Levy Practice Guidance
Guidance on ABCs
Guidance on Bespoke Investment Risk Calculation

Guidance on Block Transfers
Guidance on Contingent Assets
Guidance on Exclusion of Mortgages

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)

 
ABC Certificate
 - The ABC certificate should be downloaded and completed onscreen – clicking on the ‘Submit’ button will then generate an email to send the data back to the PPF.

We maintain a series of FAQs specific to the 2015/16 levy year. We are adding to these as we identify issues or where they are raised with us by stakeholders.  Please click on the topics below:

 *(minor changes were made to the Determination on 12 March 2015 and more details can be found here)

 

 

On 6 October 2014, the PPF published the consultation and draft determination for the 2015/16 levy. This comprises the following documents:

The Triennium Policy Statement and 2015/16 Pension Protection Levy Consultation Document

Draft Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2015 – 31 March 2016
Draft ABC Appendix
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Draft Guidance on ABCs
Draft Guidance on Bespoke Investment Risk Calculation

Draft Guidance on Contingent Assets
Draft Guidance on Block Transfers

 

 

 

The draft updated standard form agreements are set out below, for information. The final form agreements will be published alongside the final 2015/16 Determination later this year. Schemes wishing to enter into a contingent asset agreement between now and then should continue to use the currently in force versions of the agreements available at http://www.pensionprotectionfund.org.uk/levy/riskreduction/Pages/ContingentAssets.aspx.

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)

 

We are also publishing the following certificates:

Officer's Certificate - CRA Rating
Officer's Certificate - Pension Scheme Mortgage
Officer's Certificate - Refinancing Mortgage
Officer's Certificate - Rent deposit


Sample ABC Certificate