Review of the Fraud Compensation Levy Ceiling

The Review of the Fraud Compensation Levy Ceiling: PLSA response

The PLSA fully supports victims of pension scams and shams being fairly compensated as part of our mission of better retirement outcomes for everyone. Occupational pension schemes are happy to pay their fair share but believe that it is right to extend the scope of contributors to other organisations involved in pension provision such as contract-based schemes and advisers. The PLSA believes that there is a need for at least a year’s delay in any increase in the ceiling of the FCF levy contributions to allow for a proper review of the structure and scope of the levy.