The PPF has issued consultation on the 2012/13 levy determination.

  • The levy estimate for 2012/13 (the overall amount the PPF intends to collect) is £550m (reduced from £600m for 2011/12).
  • The draft determination contains detailed rules to give effect to the new levy framework confirmed in May 2011, including changes to the measurement of insolvency risk; the addition of investment risk as a new risk factor; andfixing the levy parameters for three years rather than one.
  • The maximum risk-based levy will be 0.75% of smoothed liabilities.