Issued on: 30 November 2009
The Pensions Trust has applauded the Pension Protection Fund’s (PPF)’s proposal to change the way it collects financial information which could lead to a substantial saving in PPF levies.
Prompted by feedback from voluntary sector stakeholders, including The Pensions Trust, the PPF has decided that rather than relying on charities with defined benefit pension arrangements to send their accounts direct to the PPF, they are now proposing to gather this information from the Charity Commission.
Logan Anderson, Head of Customer Relations at The Pensions Trust said, ‘The Pensions Trust fully supports developments which produce fairer levies that more accurately reflect the risk that schemes present to the PPF’. Logan further commented that ‘a similar exercise with our social housing schemes has saved hundreds of thousands of pounds each year and we foresee this change will have a similar effect with our charitable employers. .
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