The Pension Protection Fund (PPF) has confirmed its fraud compensation fund (FCF) needs to raise a levy of 75p per member, and 30p for master trusts in 2021/2022 — the maximum allowed under current regulations.
The lifeboat fund said it needs to raise the levy "in light of the number of claims we have received". Pension schemes set up as part of a scam are eligible to claim on the FCF. The PPF revealed...
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