24 November 2008
The Pension Protection Fund (PPF) confirmed that it has set a
pension protection levy estimate of £700 million for 2009/10.
This fulfils a promise made in August 2007 when the PPF said that
it would set a levy estimate of £675 million for the next
three years, indexed to wages, so long as there was no significant
change in risk.The PPF stated that the decision to keep the same
levy estimate as last year, indexed to wages, was not an easy one
but it believes it is one that had to be taken to help reduce the
burden on levy payers, particularly during the current economic
downturn.
