Pensions Lifeboat Fund Eyes Lower £415M Levy Next Year

By Irene Madongo (September 28, 2021, 3:24 PM BST) -- The Pension Protection Fund expects its levy for the next financial year beginning April 2022 will fall to £415 million ($563 million) from £520 million in the current year, as it cited its strong financial position and an improvement in the funding positions of fee payers.

The lifeboat fund, which supports staff benefit plans if a sponsoring employer collapses, said in a consultation published Tuesday that its analysis suggests that approximately 82% of pension schemes can expect to see a lower levy than in the current year. The consultation for next year's levy closes on Nov. 9.

The PPF said its strong...

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