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Brightwell comments on the 2025/26 PPF levy

Morten Nilsson, CEO, Brightwell – primary services provider to the £35.7bn BT Pension Scheme said: “We welcome the Pension Protection Fund’s (PPF) announcement that it is delaying a decision on the 2025 / 2026 levy.

“A well-functioning, safe and robust defined benefit (DB) sector is in everyone’s interest and the PPF has a key role in ensuring this.

“But, given the significant surplus within the PPF, it cannot be right to continue to impose substantial levies on pension schemes and sponsors diverting resources that could otherwise be invested in the UK economy.

“Urgent legislative reform is needed to allow the PPF greater flexibility in setting the levy, and to allow for a zero levy. We hope to see this in the forthcoming Pension Schemes Bill.”

Published:

12 / 12 / 2024

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