Change to PPF compensation regime might lead to increased levy
It remains to be seen whether proposed changes to the Pension Protection Fund (PPF) compensation regime, which will benefit long-serving members of underfunded schemes of insolvent employers, will lead to increased PPF levies: there is no immediate suggestion that it will, but this must be a risk over time.
In a ministerial statement issued by the Department for Work & Pensions (DWP) on 25 June 2013, the minister for pensions, Steve Webb, announced that there will be an increase to the cap on compensation paid by the PPF in relation to members of PPF-qualifying schemes who have had long service and have large pension entitlements in those schemes…
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