DWP consultation on The Occupational Pension Schemes (Levies) (Amendment) Regulations – an NAPF response
The NAPF has responded to the DWP’s consultation on ‘. This consultation sought views on the adjustment of the Administration levy that the PPF collects from eligible schemes in order to counter a deficit in their administration costs.
We have pointed out that the sudden increase in the administration levy to counteract the deficit will be unwelcome news for DB schemes who are already dealing with wider changes to the PPF Protection Levy and ongoing pressure to reduce scheme costs and have urged the DWP to be more transparent about the origin of the deficit.