A flea-bite at best (TT Nov05 p22-24)

The Pension Protection Fund Board (PPFB) is proposing that the levy on eligible companies should be risk-based. The proposals ensure that the greatest levy is imposed on the schemes that pose the greatest risk to the Fund. The cost is based on the price a company would have to pay to shut down a scheme and walk away from its pension obligations. A scheme has to satisfy several conditions but the PPFB has already agreed that several schemes can enter assessment periods.