PPF to reduce pension payments for cash-strapped companies - 14th Dec

This will be part of new rules to be announced on Friday, when the Pension Protection Fund (PPF) will update companies on the size of its first risk-based levy, says the paper. Actuaries predict the figure will be £150 million higher than the £300 million originally set out by the Government. Lawrence Churchill, the chairman of the PPF, is expected to tell companies they can reduce their share of the levy by “pledging” assets such as property to their pension fund, cutting its deficit. This would reduce the risk posed by the company to the PPF, which was set up in April to cover colla...