Pensions Update

Pension scheme administrators will be receiving their 2007/08 pension protection levy invoices from October 2007 together with the Pension Protection Fund's (PPF) Guide to the Pension Protection Levy 2007/08 (the Guide). The Guide warns that for many schemes their 2007/08 bill will be significantly higher than their 2006/07 bill even if their underfunding and insolvency risk have not changed significantly. This is largely due to the fact that the scaling figure used for 2006/07 was too low. The Guide also sets out comprehensive background information on the 2007/08 levy how the scheme-based and risk-based components...