UK - The Pension Protection Fund has confirmed the levy estimate for 2012/13 will be £550m ($860m).
Speaking at the PP Show 2011, hosted by GP's sister tile Professional Pensions, PPF chief executive Alan Rubenstein told delegates it was the lowest levy that the PPF has ever set and marks a reduction from £600m in 2011/12 - the second cut in two years.
The lifeboat fund also said it had started a consultation on the rules which will govern its new levy framework coming into effect for the first time in 2012/13 and are needed to calculate individual levy bills.
It said in a significant break from the past - when the PPF changes the way the levy is calculated every year - these new rules are intended to be fixed for three years.
This means that levy bills will be more predictable than before - and schemes can expect that if their risk falls over the three years, then so will their levy. The PPF said the rules would mean the levy would be more stable.
Rubenstein (pictured) said: "The further reduction in the amount of levy we want to collect again recognises our desire to protect employers and pension schemes which are still navigating choppy waters - while remaining mindful that we also have to protect our own financial position.
"That said the £400m surplus we posted last year showed that we remain on course for achieving our aim of being financially sufficient by 2030. And we expect to have built on that strong foundation when we announce our 2010/11 results later in the year."
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