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.

Invoicing for the 2012/13 levy began in early September. Our invoicing pages have been updated to include our 2012/13 levy guide, sample invoices and other useful information.

Reminder of key dates for 2013/14 PPF Levy

A number of key dates are approaching that will impact on your scheme’s PPF levy in 2013/14.  For 2013/14 levies, we will use information from the annual scheme return that is submitted via the Pension Regulator’s Exchange system to calculate levies.

The deadline for submission is 5pm on 28 March 2013, except as detailed below:

Item	Key Dates
Monthly D&B Failure Scores	Between 30 April 2012 and 28 March 2013
Submit scheme returns on Exchange	By 5pm, 28 March 2013
Reference period over which funding is smoothed	5-year period to 29 March 2013
Certification of contingent assets	By 5pm, 28 March 2013
Certification of deficit-reduction contributions	By 5pm, 30 April 2013
Certification of full block transfers	By 5pm, 28 June 2013
Invoicing starts	Autumn 2013

(Note: our smoothing period will end on Good Friday, 29 March 2013, as the last week-day before the start of levy year 2013/14, but data on exchange must be completed by 28 March, as this is the last working day. This difference is intentional).

Are you certifying/re-certifying contingent assets?

If you are certifying or re-certifying contingent assets, you should take account of the revised contingent asset guidance that we published in December 2012. We have also produced a summary of our observations on the assessment of guarantor strength and revised our FAQs on the subject.  

The following links may also be useful for further information:

Details	Page/Document
On 17 December 2012, the PPF published its Policy Statement on the 2013/14 levy. This was accompanied by the Levy Rules and appendices,  guidance on levy practice, block transfers, bespoke investment risk calculation and contingent assets. standard form contingent asset agreements are also on this page.	Levy Determination 2013/14
On 25 September 2012, the PPF published its consultation document on the 2013/14 levy, and alongside it, the draft determination.	Consultation Document and Draft Levy Determination 2013/14
The Levy Rules and appendices, guidance on levy practice, block transfers, bespoke investment risk calculation and contingent assets are here. You can also find standard form contingent asset agreements here.	Levy Determination 2012/13
We have put together a user guide to help schemes understand when a full block transfer has taken place and what they need to do to certify it.	Block Transfer Guidance 2012-13
This page contains links to all levy-related documents going back to 2005. Some of these documents have been superseded and are included for historic interest.	All Levy Documents