New FAQs issued 21 September 2010. The PPF has added new frequently asked questions to its website. Points of interest include:

  • confirmation that, until the PPF issues guidance on how it will implement
  • benefit equalisation for GMPs, schemes in assessment periods need not take any action to equalise GMPs. Publication of the guidance has been delayed while the PPF considers issues around calculation requirements for different categories of members.
  • the PPF will charge interest on levy payments not received within 28 days of the invoice date, from the 2010/11 levy year onwards.
  • invoices for the 2010/11 levy will be issued from September 2010 onwards. Any challenges to the amount of the levy must be registered within 28 days of the invoice date. The PPF states that the deadline amount will be strictly applied except in exceptional circumstances.