PPF extends 90-day levy payment window

Schemes and employers impacted by Covid-19 can apply for an extension for 2021/22 levy invoices

Jonathan Stapleton
clock • 1 min read
David Taylor is executive director and general counsel at the PPF
Image:

David Taylor is executive director and general counsel at the PPF

The Pension Protection Fund (PPF) has confirmed it will continue to support levy payers impacted by Covid-19 by offering up to 90 days interest-free to pay their 2021/22 levy bill.

The lifeboat fund said that, for a second year, schemes and sponsoring employers can apply for the payment extension within 28 days of receiving their levy invoice.

To apply for an extension, levy payers must complete an online form on the PPF's website and explain how they continue to be affected by the pandemic.  Applicants will also need to commit to paying their bill within 90 days so that the statutory interest can be waived.

PPF executive director and general counsel David Taylor said: "We know that there continue to be financial challenges for our levy payers, so we're pleased to be able to continue to support any levy payers impacted by Covid-19 with a 90-day extension to pay their bill.

"We hope that offering this flexible payment option again will give our levy payers some breathing space to cope with their financial commitments in a difficult and changing environment."

The PPF said schemes or sponsoring employers who need longer than 90 days can make an application under the existing repayment plan process.

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