Final Salary Pension Schemes–Some good news?
The Pension Protection Fund is due to bring in a new levy system next year . It’s expected to result in a £50m reduction in levy bills over the next year.
The new system is intended to provide greater stability but will also place a greater emphasis on the funding level and investment risk of the pension scheme.
One of the unfortunate down sides of the new system is that pension schemes with very strong employers which are not especially well funded could see an increase in their levy.
Steve Clark