The Pension Protection Fund has today announced in its 2024/25 levy consultation that it expects to collect £100m in levy next year, further reducing the levy by half compared with the 2023/24 estimate.
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We received 13 responses to our consultation. They were generally positive, so we’ve decided to proceed with the majority of our proposed set of assumptions, with an amendment to the mortality assumptions for s143 valuations.
Last November a court ruling clarified that occupational pension schemes set up as part of a scam were eligible to claim on the Fraud Compensation Fund (FCF). This is excellent news for the victims of these scams.
We’ve now published the final levy rules for 2021/22, alongside our policy statement summarising the responses we received during consultation, and our conclusions.
The announcement precedes the formal publication of the 2021/22 levy rules in January 2021
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