UK - Pension Protection Fund (PPF) has gone out to consultation on proposals to take account of scheme investment strategies when calculating levies.
It said the result of including longer term risk when calculating individual levies - which the current approach does not recognise - would be fairer bills for levy payers.
The PPF said it also expected these proposals to reduce the volatility seen in the current formula which would help make individual levies less volatile and more predictable.
PPF chief executive Partha Dasgupta said: "Our levy payers have given us a strong message that the current system does not differentiate enough between schemes - and that levy bills should be less volatile.
"We believe our proposals will go a long way to answering these concerns. Also, we now have the best information about schemes that has ever been available - and this enables us to measure more accurately the short and long-term risks that individual schemes pose to the PPF."
He added: "The proposals will change the distribution of the levy among schemes to more accurately reflect the risks that we face - there are a similar number of schemes that will pay more as will pay less."
The proposals build on initial thinking it published last year and the principles it set out at the National Association of Pension Funds' annual conference in October.
The PPF used external advice from consultants, Oliver Wyman, to help develop its thinking as well as a technical reference group made up of industry representatives.
The PPF has now started a three month consultation on the proposals. If accepted they will be implemented in 2011/12 year.
These proposals follow the announcement by the PPF that it kept its promise to propose the same levy estimate for 2009/10 as 2008/09, indexed against wages (£700m).
Copies of the consultation - Consultation on the future development of the pension protection levy - can be found on the PPF website .
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