Pension guarantee funds - Levies to rise as the downturn bites

News

p4-wohlleben-jpg

With the continuing economic turmoil across the continent, two of Europe's pension guarantee systems have confirmed they will be forced to raise levy contributions in light of rising corporate insolvencies, while the UK's Pension Protection Fund may be forced to raise its levy in the near future.

Germany's Pensionssicherungs-verein (PSVaG), the pensions insurance provider for German and Luxembourg book reserve plans - schemes that are funded directly through balance sheet contributions - has war