The pension protection levy is one of the ways that the PPF funds the compensation payable to members of schemes that transfer to the Pension Protection Fund.
These pages contain information about who has to pay the levy, how it is calculated, how schemes can reduce their levy, and the invoicing process. The information in the table below is based upon the rules for 2016/17 and so is relevant for invoices issued from September 2016.
On 22 September 2016 we published the consultation document on the Pension Protection Levy for 2017/18. The document can be found here.
Changes are limited but include a proposed mechanism for stakeholders to notify Experian where the move to new UK accounting standard FRS 102 would otherwise cause an artificial movement in their rating.
The closing date for comments is Monday 31 October 2016. We plan to publish a Policy Statement and the Final Determination in December.
Third Levy Triennium
The third levy triennium will cover the levy years 2018/19 to 2020/21. While we try to maintain stable rules within a triennium we can consider more significant changes at the change of triennia. On 28 July 2016 we published an update on the areas we plan to review within the Third Levy Triennium. The document can be found here
Levy Data Correction Principles
Guidance on ABCs
Guidance on Bespoke Investment Risk Calculation
Guidance on Block Transfers
Guidance on Contingent Assets
Guidance on Exclusion of Mortgages
Trustees and employers can check their Experian data and scores by logging on to the Pension Protection Score Portal