The Pension Protection Fund (PPF) has published the 2010/11 Pension Protection Levy Policy Statement which sets out:
- that the Board aims to collect an overall levy of £720 million;
- a levy scaling factor of 1.64;
- a risk-based levy cap of 0.5 per cent of liabilities;
- a change to the way probabilities of insolvency for foreign employers are calculated;
- changes to the requirements for certification of block transfers; and
- a deadline of 9 April 2010 for certification of deficit reduction certificates.
The PPF has also published the final levy determination for 2010/11.