Work and Pensions written question – answered at on 28 February 2008.
To ask the Secretary of State for Work and Pensions what his estimate is of the number of companies which face increases in their annual payments to the Pension Protection Fund as a result of their overturned appeals against its levy.
The Board of Pension Protection Fund (PPF) is responsible for the calculation of the Pension Protection Levy and is required by law to publish in advance the rules it has determined for calculating the levy for each financial year. No eligible scheme is required to pay more than the amount correctly calculated in accordance with the rules determined by the board.
Eligible schemes may use a statutory appeals process to challenge whether an individual levy invoice has been calculated correctly, in accordance with the rules and using the relevant scheme data. As at
Schemes may apply to the Pension Protection Fund Ombudsman if they are dissatisfied with the decision of the PPF's Reconsideration Committee. No applications have been received by the PPFO for 2007-08.
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