The Pension Protection Fund (PPF) has published its guidance on contingent assets for the 2010/2011 levy year. Other documents relating to the 2010/2011 levy year are also available.
The PPF has also published its policy statement for the 2011/2012 levy year, which among other things confirm its proposal to “to cap the Failure Score of a subsidiary company at the lower of the level of its ultimate global or domestic parent, when one or both are at substantial risk of insolvency”.
See the PPF’s website for more information.
Employers and trustees are reminded that the deadline for submitting information for calculating the 2010/2011 and the 2011/2012 levy is in most cases:
- 30 March 2010 for submitting contingent asset certificates and providing information to D&B for calculating failure scores; and
- 31 March 2010 for updating Exchange with levy-related information.Employers and trustees should check if they can take any action between now and the deadlines to reduce their levy invoice.
See the PPFs deadline webpage.