All PPF levy articles – Page 2
-
NewsGovernment considers overturning PPF’s Bauer ruling
The government is looking to remove the effects of the Bauer ruling, impacting the Pension Protection Fund, from UK law and will introduce primary legislation in the near future, according to a letter sent to various industry stakeholders.
-
NewsBudget: Govt not expecting tax relief take-up and millions for McCloud
Pensions Expert’s roundup of the key figures from the Autumn Budget: the government assumes most people will not claim their net pay tax relief top-up, £10m has been set aside to help administer increasingly complex McCloud tax arrangements, and the Goodwin remedy could end up costing £3bn. However, savings have been made from the double lock and state pension overpayment revisions.
-
NewsInflation and Covid uncertainty temper PPF performance
Inflation is one of a number of concerns for the Pension Protection Fund, with post-Covid uncertainty tempering reaction to an otherwise positive set of results released in its annual report published on Monday.
-
NewsPPF pays out £1bn but fraud compensation claims raise concerns
The Pension Protection Fund paid out £1bn in member compensation in 2020-21, but there are concerns as potential claims with a value in excess of £358m against its Fraud Compensation Fund vastly exceed the money available to pay them, according to the PPF’s annual report.
-
NewsPPF levy to fall by £105m in 2022-23
On the go: The Pension Protection Fund has announced that it expects to collect £415m from its levy payers in 2022-23, a reduction of £105m from the previous year.
-
NewsDWP rules out appeal on PPF’s compensation cap ruling
On the go: The Pension Protection Fund will soon start making changes to its benefit structure, since the Department for Work and Pensions will not be appealing the Court of Appeal decision which ruled the compensation cap unlawful.
-
NewsPPF grants levy payment window for schemes impacted by Covid-19
On the go: Defined benefit pension schemes impacted by the pandemic will be granted a 90-day payment window to pay their Pension Protection Fund 2021-22 levy bill.
-
OpinionPPF statistics hint at a different future for DB schemes
The Pension Protection Fund 7800 index figures have been notable, revealing an aggregate funding position of 103.5 per cent with the proportion of schemes enjoying a surplus on the PPF basis far higher than at this point in 2020.
-
NewsPPF 7800 Index shows surplus and funding improvements
On the go: The PPF 7800 Index for June shows improvements in the surplus and funding positions (on a section 179 basis) for the more than 5,000 schemes potentially eligible for entry to the Pension Protection Fund.
-
NewsPPF could receive DWP loan for Fraud Compensation Fund
On the go: A bill has been introduced to parliament that will enable the Pension Protection Fund to receive a loan from the Department for Work and Pensions in order to make fraud compensation payments.
-
NewsTPR, PPF propose tiered approach in asset information reform
The Pensions Regulator and the Pension Protection Fund have issued a joint consultation into proposals to change the asset class information TPR collects via the scheme return.
-
NewsHundreds of schemes to benefit as PPF updates actuarial assumptions
On the go: Almost 300 schemes could see their deficits transformed into surpluses after the Pension Protection Fund announced its decision to press ahead with changes to actuarial assumptions.
-
News
TPR takes three suspects to court over multimillion-pound fraud
On the go: Three people appeared in court on Tuesday following an investigation by the Pensions Regulator into a multimillion-pound pension fraud.
-
News
Schemes to pay maximum fraud compensation levy
On the go: The Pension Protection Fund has announced it will raise the fraud compensation levy to the maximum allowed by law as the number of claims rise.
-
News
PPF reveals 23% ethnicity pay gap
On the go: The Pension Protection Fund has published its latest ‘Diversity pay gap report’, which reveals it has an ethnicity pay gap of 23 per cent.
-
News
PPF 7800: Schemes in surplus for first time in two years
On the go: The position of the UK’s 5,318 defined benefit pension schemes moved into surplus for the first time in two years, with improvements in funding positions driven by increased bond yields, according to the PPF 7800 index for February.
-
News
TPR puts £25m anti-avoidance case to bed
On the go: The Pensions Regulator has agreed a £25m settlement in its anti-avoidance case against the owners of bed manufacturer Silentnight, a sum not big enough to prevent its defined benefit scheme plunging into the Pension Protection Fund.
-
News
Arcadia schemes could have enough assets to survive outside PPF
On the go: Arcadia pension scheme members could receive a greater portion of their savings after a string of property and infrastructure sales raised enough capital to bring them out of the Pension Protection Fund.
-
News
Hundreds of schemes to move to surplus under PPF’s proposals
On the go: Some 261 defined benefit schemes are expected to move from deficit to surplus under new proposals to change actuarial assumptions used by the Pension Protection Fund.
-
News
PPF halves small scheme levy but warns of future rate hikes
On the go: The Pension Protection Fund has confirmed it will halve the levy for schemes with less than £20m in liabilities in order to “better reflect the risk posed by small schemes”, according to the final version of its 2021-22 levy rules.