Pensions - Articles - PwC comments on PPF's statement on Third Levy Triennium

 “If you are currently considering taking action to manage your PPF levy, be mindful of the PPF’s proposals for the next triennium. 

 “The potential changes will be particularly relevant for employers in the regulated financial sector or those with credit ratings. Also, PPF is considering to close down scorecard arbitrage on its best scoring “large and complex” scorecard by stratifying it into two size-rated populations.

 “For those companies reporting pension deficits under Financial Reporting Standard (FRS) 102 for the first time, look out for the PPF consultation in autumn and how this will be reflected in the insolvency risk methodology.”

 Lauren Baba, pensions credit advisor senior manager at PwC, said: “Although the PPF has identified a set of priority areas for review, it appears that the existing model is working reasonably well, having resulted in a significant drop in appeals and remaining relatively predictive.

 “The PPF continues to respond to feedback and the main points raised by pensions stakeholders are being addressed, in particular, by ongoing considerations of amendments to scorecards.”