Pensions - Articles - PPF confirms extension of 90 day levy payment window

 Schemes and sponsoring employers impacted by COVID-19 can apply for a payment extension for their 2021/22 levy invoices

 If approved, the levy must be paid within 90 days so that interest charges can be waived

 For a second year, schemes and sponsoring employers can apply for the payment extension within 28 days of receiving their levy invoice.

 To apply for an extension, levy payers must complete an online form on the PPF’s website and explain how they continue to be affected by the pandemic. Applicants will also need to commit to paying their bill within 90 days so that the statutory interest can be waived.

 David Taylor, Executive Director and General Counsel at the PPF said: “We know that there continue to be financial challenges for our levy payers, so we’re pleased to be able to continue to support any levy payers impacted by COVID-19 with a 90 day extension to pay their bill.

 “We hope that offering this flexible payment option again will give our levy payers some breathing space to cope with their financial commitments in a difficult and changing environment.”

 Schemes or sponsoring employers who need longer than 90 days can make an application under the existing repayment plan process.

 Visit the PPF website’s 'Help paying your levy’ page for information on payment options.