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Here you can find documents relating to the levy, stretching back to 2005. This includes consultations and determination documents.
Consultation Documents/Policy Statements
From December 2012
From September 2012The 2013/14 Pension Protection Levy Consultation Document
Legal Documents Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2013 – 31 March 2014Contingent Asset Appendix DRC Appendix Insolvency Risk AppendixInvestment Risk Appendix MFR Conversion Appendix Transfers Appendix Transformation Appendix
Draft Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2013 – 31 March 2014Draft Contingent Asset Appendix Draft DRC Appendix Draft Insolvency Risk AppendixDraft Investment Risk Appendix Draft MFR Conversion Appendix Draft Transfers Appendix Draft Transformation Appendix
GuidanceLevy Practice GuidanceGuidance on Bespoke Investment Risk CalculationGuidance on Contingent Assets Guidance on Block Transfers
From December 2011The 2012/13 Levy Policy Statement
From September 2011The 2012/13 Levy Consultation Document
From May 2011The Pension Protection Levy - A New Framework: Policy StatementA New Framework: Combined AnnexesConsultation: Guidance for the Bespoke Calculation of Investment Risk
From January 2011Press statement on planned intentions
From October 2010The Pension Protection Levy: A New Framework: Consultation DocumentCombined AnnexRedington report on investment riskMercer report on reflecting good governance practices and risk managementDavid McCarthy and Anthony Neuberger: Evaluating the fairness of the Risk-Based Levy
Legal Documents
Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2012 – 31 March 2013Contingent Asset Appendix DRC Appendix Insolvency Risk AppendixInvestment Risk Appendix MFR Conversion Appendix Transfers Appendix Transformation Appendix
GuidanceA Guide to the Pension Protection Levy 2012/13Levy Practice GuidanceGuidance on Bespoke Investment Risk CalculationGuidance on Contingent AssetsGuidance on Block Transfers
Draft Guidance on Bespoke Investment Risk Calculation
Consultation DocumentsThe 2011/12 Pension Protection Levy Policy StatementThe 2011/12 Pension Protection Levy Consultation Document2011/12 Pension Protection Levy Consultation Policy Statement: Insolvency RiskThe 2011/12 Pension Protection Levy Consultation - Insolvency Risk
Legal Documents & MethodologiesFinal Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2011 – 31 March 2012, including the Rules
Transformation appendixMFR conversion appendixDRC appendixContingent asset appendixAPI appendixTransfers appendix
Draft Determination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2011 – 31 March 2012, including the Rules
Draft Transformation appendixDraft MFR conversion appendixDraft DRC appendixDraft Contingent asset appendixDraft API appendixDraft Transfers appendix
GuidanceA Guide to the Pension Protection Levy 2011/12Block Transfer GuidanceFinal Levy Practice Guidance Final Contingent Asset GuidanceDraft Levy Practice Guidance Draft Contingent Asset Guidance
Consultation Documents2010/11 Pension Protection Levy Consultation Policy StatementThe 2010/11 Pension Protection Levy ConsultationResponses to the Consultation on the Future Development of the Pension Protection Levy
Legal Documents & MethodologiesDetermination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2010 – 31 March 2011Transformation appendixMFR conversion appendixDRC appendixContingent asset appendixAPI appendixTransfers appendixForm of Type A contingent asset - group company guaranteeForm of Type B(i) contingent asset - security over cashForm 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 securitiesForm 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)
Guidance A Guide to the Pension Protection Levy 2010/112010/11 Levy Practice Guidance Contingent Asset Guidance - pub. Dec 2009
Consultation Documents
Update on the Future Development of the Pension Protection Levy (June 2009)Conclusions on the 2009/10 Pension Protection Levy Consultation (November 2008)Consultation on the Future Development of the Pension Protection Levy (November 2008)Consultation on the Future Development of the Pension Protection Levy - Annexes (November 2008)The 2009/10 Pension Protection Levy Consultation (September 2008)
Legal Documents & MethodologiesDetermination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2009 – 31 March 2010Determination Appendix 1 - Formulae for transforming section 179 valuation results to a section 179 basis as at 31 March 2008Determination Appendix 2 - Valuation methodology where a section 179 valuation not filed by deadlineDetermination Appendix 2A - Methodology for schemes which received a transfer of total assets and liabilities of another scheme prior to 1 April 2009 but did not fornally notify the Board by relevant deadlinesDetermination Appendix 3 - PPF assumed probability of insolvency based on failure scores (UK employers) Determination Appendix 4 - Contingent assetsDetermination Annex A - Requirements in respect of Block Transfer CertificatesDetermination Annex B - Requirements in respect of Deficit-Reduction CertificatesDetermination Annex C - Requirements in respect of Contingent AssetsDetermination Annex G - Amendment and Replacement Conditions
Presentation SlidesSlides from the January 2009 Levy Seminars
Consultation DocumentsThe Response to the August 2007 Pension Protection Levy Consultation - November 2007 (this includes the Draft Determination for 2008-09)Consultation on the Future Development of the Pension Protection Levy - August 2007
Legal Documents & MethodologiesDetermination under Section 175(5) of the Pensions Act 2004 in respect of the financial year 1 April 2008 – 31 March 2009Determination Appendix 1 - Formulae for transforming section 179 valuation results to a section 179 basis as at 31 October 2007 for the purpose of calculating the pension protection levy in respect of the financial year 1 April 2008 – 31 March 2009Determination Appendix 2 - Methodology for adapting MFR valuations to estimate liabilities on a section 179 basis for the purpose of calculating the pension protection levy in respect of the financial year 1 April 2008 – 31 March 2009 where no section 179 valuation has been provided by the statutory deadlineDetermination Appendix 3 PPF assumed probability of insolvency based on risk band (UK employers)Determination Appendix 4 - Contingent assetsDetermination Appendix 5 - Calculation of the multiplier and the scaling factor
GuidanceA Guide to the Pension Protection Levy 2008/09FactsheetsThe Pension Protection Levy - Policy 2008-2009 to 2010-2011
Presentation SlidesSlides from the September 2007 Levy Seminars
Consultation DocumentsModelling Uncertainty - An Introduction to the PPF Long Term Risk Model - August 2007Summary of responses to the 2007/08 Levy Estimate Consultation Document and publication of the final 2007/08 Levy Determination - March 2007The 2007-08 Pension Protection Levy Estimate Consultation Document December 2006 The 2007-08 Pension Protection Levy Consultation Document - September 2006
Legal Documents & MethodologiesDetermination under section 175(5) of the Pensions Act 2004 in respect of the Financial year 2007/08Appendix 1 - Formulae for transforming section 179 valuation results to a section 179 basis as at the date required for the purpose of calculating the pension protection levy in respect of the financial year 1 April 2007 – 31 March 2008Appendix 2 - Methodology for adapting MFR valuations to estimate liabilities on a section 179 basis for the purpose of calculating the pension protection levy in respect of the financial year 1 April 2007 – 31 March 2008Appendix 3 - PPF assumed probability of insolvency based on risk band (UK employers)Appendix 4 - Contingent AssetsAppendix 5 - Calculation of the multiplier and the scaling factor
GuidanceA Guide to the Pension Protection Levy 2007/08
FactsheetsWorking out Long Term Risk to the PPFThe Pension Protection Levy 2007-08How to calculate a scheme's levy for the levy year 2007-08
Consultation documentsThe response to the Second Pension Protection Levy Consultation February 2006The Pension Protection Levy Consultation Document: December 2005The Pension Protection Levy Consultation Document - Update: October 2005The Pension Protection Levy Consultation Document: July 2005
Legal DocumentsDetermination under section 175(5) of the Pensions Act 2004 in respect of the financial year 2006-07Appendix 1 - Methodology for adapting MFR valuations to estimate liabilities on a section 179 basis as at 31st March 2006Appendix 2 - Formulae for rolling forward section 179 valuation results to 31 March 2006 Appendix 3 - PPF assumed probability of insolvency based on risk band (UK employers)Appendix 4 - Contingent Assets
GuidanceA Guide to the Pension Protection Levy 2006/07
Presentation Slides Presentation slides from the February 2006 risk based levy workshops
Factsheets The Pension Protection Levy - Facts and Figures 2006-07The Pension Protection Levy 2006-07How to Calculate a Scheme's Levy for the levy year 2006-07