PPF denies levy overcharging allegations

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The Pension Protection Fund has denied allegations it is "systematically overcharging" companies to the tune of millions of pounds on their levy payments.

The PPF admits it reneged on pledges to lower levy payments for several schemes but says it had to legally. It says it has apologised to the 41 members affected, but admits they will now have to pay their original levy amounts. A spokesman says: “We initially made a mistake and we were wrong. “We have apologised to the companies affected and are now in the process of confirming their original levy payments.” The controversy surrounds accusations by Aon Consulting that PPF overruled appeals from scheme members for lower levies, even though they had already been given the go-ahead by PPF’...

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