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...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
