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Reducing your Pension Protection Fund (PPF) levy for 2016/17

21 January 2016

2016/17 is the second year in the Pension Protection Fund (PPF)'s levy "triennium" under the new levy framework. Deadlines to remember are:

  • Midnight, 31 March 2016 – submit scheme returns on Exchange
  • Midnight, 31 March 2016 – certification (or re-certification) of contingent assets on Exchange and submission of hard copy supporting documents to PPF
  • Midnight, 31 March 2016 – certification of asset-backed contributions to PPF
  • Midnight, 31 March 2016 – certification of mortgages and other security by submitting an officers' certificate and associated hard copy documents to Experian
  • 5pm, 29 April 2016 – certification of deficit reduction contributions on Exchange
  • 5pm, 30 June 2016 – certification of block transfers on Exchange (or sent to PPF in limited circumstances).

This note sets out the steps trustees should take if they wish to reduce their pension scheme's risk-based levy by taking account of contingent assets or asset-backed contributions. It also gives an update on certification of mortgage ages (used when assessing an employer's insolvency risk) and the PPF's approach to associated last man standing schemes.

Please click here to read the full briefing note.

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