pension protection levy

pension protection levy
The most significant of the levies that the Pension Protection Fund (PPF) may raise to fund its operations. The pension protection levy comprises the risk-based levy and the scheme-based levy.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • Pension Protection Fund — (PPF) A statutory fund, established with effect from 6 April 2005 by the Pensions Act 2004. The PPF pays compensation at a prescribed level to members of defined benefit schemes that are eligible for entry. A scheme may be eligible if its… …   Law dictionary

  • Pension Protection Fund — The Board of the Pension Protection Fund (the PPF) is a Statutory Fund in the United Kingdom. It was created under the Pensions Act 2004. The Board of the PPF is a Statutory Corporation responsible for managing the Fund and for making payments to …   Wikipedia

  • Pension Protection Fund Ombudsman levy — (PPFO levy) One of the levies that the Pension Protection Fund (PPF) may raise from defined benefit schemes that may be eligible to receive compensation if they meet certain entry conditions. Section 209 of the Pensions Act 2004 permits the PPF… …   Law dictionary

  • Pension Protection Fund Ombudsman — (PPFO) Created by the Pensions Act 2004, the Pension Protection Fund Ombudsman (PPFO) is empowered to: • Investigate complaints about maladministration by the Pension Protection Fund (PPF). • Consider applications fro …   Law dictionary

  • risk-based levy — The most significant of the levies that the Pension Protection Fund (PPF) may raise to fund its operations. The risk based levy forms part of the pension protection levy. It is calculated according to the PPF s assessment of two factors: • The… …   Law dictionary

  • scheme-based levy — One of the levies that the Pension Protection Fund (PPF) may raise in order to fund its operations. The scheme based levy is one element of the pension protection levy. It reflects the number of members in an eligible defined benefit scheme and… …   Law dictionary

  • PPFO levy — Pension Protection Fund Ombudsman levy (PPFO levy) One of the levies that the Pension Protection Fund (PPF) may raise from defined benefit schemes that may be eligible to receive compensation if they meet certain entry conditions. Section 209 of… …   Law dictionary

  • administration levy — One of the levies that the Pension Protection Fund (PPF) may raise from defined benefit schemes that may be eligible for compensation if they meet the entry conditions. Section 117 of the Pensions Act 2004 gives the PPF power to raise the… …   Law dictionary

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