PPF to refine levy


The UK's Pension Protection Fund, created to take on the pension liabilities of insolvent employers, has announced revisions to the risk-based levy that it plans to charge pension schemes. Responding to industry feedback, the PPF will allow special cash contributions made by sponsors to a deficit-ridden scheme to reduce the amount of levy charged to that scheme.

A more complex issue is the way the PPF deals with contingent financing. According to PPF director of finance and investment, Partha