PLSA welcomes Levy determination for 2018/19 | Pensions and Lifetime Savings Association

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PLSA welcomes Levy determination for 2018/19

19 December 2017

The Pensions and Lifetime Savings Association (PLSA) has today commented on the Pension Protection Fund (PPF) Levy Policy Statement 2018/19 (click here). 

Caroline Escott, Policy Lead:  Investment and Defined Benefit at the PLSA, commented: 

“The PPF’s Policy Statement today is good news for DB schemes, with confirmation of a 10% reduction in the Levy – which at £550m is its lowest ever – and news that two thirds of schemes will see a lower levy.   We are also pleased to see that SMEs will see both a 30% reduction in bills and a simplified process for certifying Deficit Reduction Contributions. 

“We’d like to express our thanks to the PPF for their continued close engagement with the PLSA, our members and the broader industry in developing these rules.” 

-ENDS- 

NOTES TO EDITORS: 

PRESS CONTACTS 

Lee Blackwell, Head of Media & PR, Pensions and Lifetime Savings Association - T: 020 7601 1726, M: 07713 073 023, E: [email protected]

Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association - T: 020 7601 1748, M: 07901 007 713, E: [email protected]

Eleanor Carric, PR Manager, Pensions and Lifetime Savings Association - T: 020 7601 1718, M: 07825 171 446, E: [email protected] 

ABOUT THE PENSIONS AND LIFETIME SAVINGS ASSOCIATION

We’re the Pensions and Lifetime Savings Association; the national association with a ninety year history of helping pension professionals run better pension schemes. Our members include over 1,300 pension schemes with 20 million members and £1 trillion in assets, and over 400 businesses. They make us the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels. 

Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.