The Pensions and Lifetime Savings Association (PLSA) has today commented on the Pension Protection Fund (PPF) Levy Estimate 2018/19, and the newly announced consultation on draft levy rules for 2018/19 (press release here).
Joe Dabrowski, Head of Governance & Investment, Pensions and Lifetime Savings Association, commented:
“We welcome the consultation and are pleased that the PPF has continued to engage closely with the PLSA and industry in developing the Levy rules.
“The 10% reduction in the Levy proposed today is very welcome news for defined benefit schemes, as is the news that around two thirds of schemes will see a lower levy, and SME’s a 30% reduction in bills.
“The new rules contain a number of other changes, which we will examine with our members more fully during the course of the consultation. Ultimately, the key is ensuring that all schemes pay a levy that properly reflects the risks posed by their sponsors.”
NOTES TO EDITORS:
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.