Pensions - Articles - PPF will raise a Fraud Compensation Levy in 2017/18


The Pension Protection Fund is raising a Fraud Compensation Levy in 2017/18, for the first time in five years.

 The PPF, which runs the Fraud Compensation Fund (FCF), has been notified of a number of possible claims which may come to the FCF in the next few years. Therefore, with forward planning in mind and to smooth the impact to schemes over time, the PPF is raising a levy of 25p per member – the same as in 2012/13. The levy is expected to raise around £5 million in total.

 The FCF pays compensation to eligible work-based pension schemes – including defined contribution (DC) – where the employer is insolvent and the scheme has lost out due to offences involving dishonesty.
 
 The levy is collected by The Pensions Regulator alongside its general levy. The collection process began on 1 April.
 
 More information about the Fraud Compensation Fund can be found here.
  

Back to Index


Similar News to this Story

Hedging comes good as yields fall
Fully hedged scheme sees funding level increase by over 1 full percentage point through February to reach strongest position since 2022. 50% hedged sc
Strong underlying support for auto enrolment reform
Over two in five (43%) business leaders say that the minimum workplace pension auto-enrolment contribution level should rise, with nearly three quarte
Master trusts to prepare for future scale requirements now
TPR sets out principles for how trustees can assess their scheme’s growth potential and prepare for proposed new scale requirements under the Pension

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.