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

Holly Roach
Author spotlight

Holly Roach

News Editor at Professional Pensions

More on Industry

Budget 25: What happened for pensions?

Budget 25: What happened for pensions?

Salary sacrifice cap, pre-97 inflation protection, DB surplus release, IHT and British Coal scheme

Holly Roach
clock 27 November 2025 • 2 min read
TPR urges trustees to help combat 'ruthless' pension scams

TPR urges trustees to help combat 'ruthless' pension scams

Regulator says industry has ‘critical role’ to play in warning and protecting savers

Holly Roach
clock 27 November 2025 • 1 min read
News Digest: Pension savers hit by £4.7bn salary sacrifice tax grab

News Digest: Pension savers hit by £4.7bn salary sacrifice tax grab

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 27 November 2025 • 1 min read
Trustpilot