The PPF has overturned the successful appeals to Dun & Bradstreet (D&B) of 45 companies with large pension deficits to reduce their levies. The PPF claimed that D&B had misinterpreted the rules governing the risk-based levy and stated that it would have been illegal to effectively discount the insolvency scores. Industry experts have expressed surprise as D&B have the sole responsibility for calculating risk on the PPF’s behalf and stated that the PPF’s decision to ignore its own expert advisers would undermine industry confidence in the PPF.