On 21 December 2006 the PPF published, for consultation, its levy estimate of £675 million for 2007/08. The PPF has set the levy estimate at this level particularly in an effort to make up for an under collection of levy fees during 2006-2007 and to help reduce the PPF’s deficit. The PPF hopes that this move will ensure public confidence in the PPF’s financial security.
A cap is also proposed. It is intended to protect weaker schemes, whilst not penalising stronger schemes by way of increased cross-subsidy.
Responses to the consultation are sought by 2 February 2007.