The Department for Work and Pensions is consulting on the following draft regulations:
- the Occupational Pension Schemes (Levies) (Amendment) Regulations 2008, which provide for the amount payable in relation to the PPF administration levy for each financial year ending on or after 31 March 2009. The levy rates have been increased to meet rising PPF administration and resource costs;
- the Occupational and Personal Pension Schemes (General Levy) (Amendment) Regulations 2008, which set out the new minimum amounts of general levy for occupational and personal pension schemes; and
- the Pension Protection Fund (Payments to meet Risk-based Administration Costs) Regulations 2008, which permit the board of the PPF to make payments from the PPF to meet costs incurred in maintaining records of persons entitled to compensation, maintaining a payroll for compensation payments and verifying data necessary to establish such records and payroll.
These regulations are intended to come into force in April 2008. Any responses should be made by 31 January 2008. View the consultation paper