PLSA comments on the launch of the Pension Protection Fund Levy Consultation for 2021/22
29 September 2020
The Pensions and Lifetime Savings Association (PLSA) have commented on the launch of the Pension Protection Fund (PPF) Levy Consultation for 2021/22.
Joe Dabrowski, Head of DB, LGPS, and Standards, PLSA, said: “The PLSA are pleased to see today’s launch of the PPF Levy consultation for 2021/22 and we look forward to giving a voice to our members as part of this process.
“While the levy for 2020/21 will not change, the decisions taken now to determine the following year’s PPF Levy will have an important impact for the future, given the wider economic challenges the pensions industry faces. We support the proposal to ease burdens on smaller schemes – which aim to have 69% of smaller schemes paying between 50% to 99% less than what they will pay in 2021/22 – and it is important the PPF continues with its risk-based approach, in order to protect members and itself.
“It is also right that PPF has decided to extend payment flexibility during these troubling times. Finding the right balance for schemes and their sponsoring employers in this dynamic and unpredictable time is undoubtedly extremely challenging – and we will be looking over detail to make sure that there are no unforeseen consequences.”
Mark Smith, Senior PR Manager
020 7601 1726 | [email protected]k
Steven Kennedy, PR Manager
020 7601 1737 | 07713 073024 | [email protected]