The Pension Protection Fund (PPF) has laid out the regulations prescribing the PPF compensation cap and maximum amount of levy that can be imposed for 2011/12 before Parliament. The regulations state that the:
- compensation cap will be set at £33,219.36 from 1 April 2011 – an increase of 0.5% from the present cap of £33,054.09; and
- earnings percentage to used to increase the maximum amount of levy the PPF can impose on eligible pension schemes is 2.4%, so that the ceiling for the pension protection levy will be £892,092,092 – up from £871,183,684 in 2010/2011.
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