Commenting on today’s (Thursday) publication of the proposed Pension Protection Fund Levy for 2014/15, Darren Philp, Director of Policy at the National Association of Pension Funds (NAPF), said:
“We understand why the levy is increasing, but pension schemes are bound to see this as an extra burden just when tough economic conditions are continuing to put them under great pressure.
“The focus will soon move to the review of the levy for the following three years, and the NAPF is looking forward to being closely involved in that debate. It will be essential to strike the right balance between ensuring the PPF remains well funded and recognising the many competing pressures on workplace pension schemes.”
The PPF is about to embark on a review of the levy for the three years from 2015/16 to 2017/18, to which the NAPF will contribute.
Notes to editors:
1. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,300 pension schemes with some 16 million members and assets of around £900 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Dee Sullivan, Head of Media and PR, (interim), 020 7601 1717 or 07917 506 683, [email protected]
Aimee Savage Richards, Press Officer (interim), 020 7601 1718 or 07825 171 446, [email protected]