DWP proposes fraud compensation levy increase

The levy is paid by scheme members and funds the PPF-managed Fraud Compensation Fund

Holly Roach
clock • 2 min read
The consultation closes to responses on 10 December 2021
Image:

The consultation closes to responses on 10 December 2021

The Department for Work and Pensions (DWP) has proposed increasing the fraud compensation levy to 65p for master trust members and £1.80 for other scheme members.

In a consultation launched yesterday (1 November), the department proposed adjusting the fraud compensation levy ceiling for 2022 to 2023 and onwards. It said this will allow the levy rates to be r...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • 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

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

IFoA urges chancellor to focus on guided retirement

IFoA urges chancellor to focus on guided retirement

Pensions board chair says frameworks need to be reviewed, suggesting a roadmap

Jasmine Urquhart
clock 11 July 2025 • 1 min read
UK GDP falls by 0.1% in May 'increasing chances' of August rate cut

UK GDP falls by 0.1% in May 'increasing chances' of August rate cut

Second monthly decline in a row, but lower than April's 0.3% decline

Sorin Dojan
clock 11 July 2025 • 3 min read
Nest returns profit of £11.9m in 2024/25

Nest returns profit of £11.9m in 2024/25

Annual report shows 9.9% five-year returns for 2045 growth phase fund

Jasmine Urquhart
clock 11 July 2025 • 2 min read
Trustpilot