An actuarial consultancy warns companies could end up having to fork out £1.5bn to support the Pension Protection Fund (PPF), more than five times more than government's original estimates.
The figure from Hymans Robertson is based on calculations from a 90-page consultation document put out by the PPF last month proposing a levy structure for 2006/2007 and moving forward. The document details the risk-based element of the levy, with consideration given to the scheme size, the amount of deficit and the financial strength of the employer. However, Hymans Robertson believes significant details have been excluded from the document taking the original £300m government estimate of money needed from occupational pension schemes to feed the Pension Protection Fund. Senior Consult...
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