Pension Protection Fund postpones levy billing process
Pension Protection Fund (PPF) 2025/2026 Levy: What We Know So Far
The Pension Protection Fund (PPF) has announced a hold on 2025/2026 levy invoicing, but the exact reasons for this decision remain unclear. Here's what we know about the PPF's 2025/2026 levy and its potential connection to the Pension Schemes Bill.
The Pension Schemes Bill, published on 5 June 2025, is still making its way through Parliament, with the committee stage in the House of Commons scheduled to begin on 2 September 2025. The Bill includes measures that could enable trustees of well-funded defined benefit schemes to release surplus funds back to employers when it is safe and appropriate, but these changes are not expected to come into effect before 2027.
Regarding the PPF's 2025/2026 levy and the potential for a zero conventional levy, the search results do not provide specific details or updates directly linking the Bill's progress to the PPF levy outcomes for 2025/2026. However, it is worth noting that the PPF's levy rules for 2025/2026 include provisions for the calculation of a zero conventional levy.
For a zero conventional levy to occur, the circumstances would depend on the PPF's assessment of scheme risks and funding levels under current rules, unrelated to the Pension Schemes Bill to date. The PPF has stated that it may charge no conventional levy in 2025/2026, subject to certain legislative changes. However, the PPF has not provided details on how the zero conventional levy will be implemented if the legislative changes are made.
The PPF's decision on the 2025/2026 levy will be made after the committee stage of the Pension Schemes Bill in the House of Commons. The PPF is monitoring the progress of the Bill, and the outcome of the Parliamentary debate will play a crucial role in determining the 2025/2026 levy.
The PPF expects to provide an update on its levy in the Autumn, so we can expect more information on this matter in the coming months. It's important to note that the Pension Schemes Bill is a key factor in determining the PPF's levy for 2025/2026, and the Bill is due to be debated in Parliament over the Autumn.
In conclusion, while the Pension Schemes Bill is an important factor in determining the PPF's 2025/2026 levy, the exact reasons for the PPF's decision to hold 2025/2026 levy invoicing are not yet clear. The PPF has stated that it may charge no conventional levy in 2025/2026, subject to certain legislative changes, but the details of this potential zero conventional levy have not been revealed. We can expect more information on this matter in the coming months.
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