Bee warns PPF cost could add to 'timetable headache'

Bee, head of pension strategy at Scottish Life, says there is no reference to the initial amount of the levy anywhere in the Pensions Bill published by the DWP yesterday. So far, the Bill reveals the levy will only be set annually and before March 31 in the tax-year it applies, he says. As a result, employers may have to wait until March 31, 2005, before they will find out how much they have to pay - this is only five days before the PPF is expected to be put into action, Bee says. This will make it very difficult for both pension providers and advisers to advice about the levy, B...