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Reducing your Pension Protection Fund (PPF) levy for 2019/20

21 November 2018

2019/20 is the second year of the Pension Protection Fund (PPF)'s third levy "triennium" under the new levy framework.

Trustees who wish to reduce their pension scheme's risk-based levy by taking account of contingent assets or asset-backed contributions need to pay careful attention to the certification processes that have deadlines of 29 or 31 March 2019.

The deadlines to remember are:

  • Certification (or re-certification) of contingent assets on Exchange – midnight, 31 March 2019 (plus submission of hard copies, below)
  • Submission of hard copy contingent asset documents to PPF – 5pm, 29 March 2019 (plus certification on Exchange, above)
  • Certification of asset-backed contributions to PPF – midnight, 31 March 2019
  • Certification of mortgages and other security by submitting an officers' certificate and associated hard copy documents to Experian – midnight, 31 March 2018  Submit data to Experian to impact Monthly Experian Scores – one calendar month prior to the Score Measurement Date
  • Certification of deficit reduction contributions on Exchange – 5pm, 30 April 2019
  • Certification of full block transfers on Exchange (or emailed to PPF in limited circumstances) – 5pm, 28 June 2019 (application for exempt transfer status must be emailed to PPF by 5pm, 30 April 2019).

Invoicing for the 2019/20 levy year is expected to start in autumn 2019.

The PPF issued draft documents for the 2019/20 levy year in September 2018 and is expected to publish final documentation in December.

Click here to read the full briefing note.

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