The Pensions and Lifetime Savings Association (PLSA) has responded to Pension Protection Fund (PPF) announcement on its long-term funding strategy review and the news that it able to reduce the total amount of levy it charges.
Joe Dabrowski, Deputy Director Policy, PLSA, said: “The PLSA has previously called for a lower levy in response to increasingly high levels of PPF surplus and so we welcome the Pension Protection Fund’s announcement that is able to significantly lower its levy as a result of the success of its long-term funding strategy. The PPF’s decision today to announce a reduction in its levy underlines the PLSA’s assessment that, despite recent market difficulties, pension funds remain well-funded and a secure home for savers’ pensions.
“It’s very positive that the PPF is in such a strong place, given its important role in the sector and the wider economic challenges we currently face. As the voice of the pensions industry, the PLSA is looking forward to continuing its close working relationship with the PPF in order to ensure the best outcomes for schemes and, in turn, savers.”