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

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Buzz: Which party will have the most positive impact on pensions?

Buzz: Which party will have the most positive impact on pensions?

Election manifestos, lay trustees and financial advisers for DC scheme members

Professional Pensions
clock 17 June 2024 • 1 min read
Reform manifesto pledges to review pension system 'riddled' with complexity

Reform manifesto pledges to review pension system 'riddled' with complexity

Manifesto announces pledge to review UK pensions system and scrap net-zero targets

Martin Richmond
clock 17 June 2024 • 2 min read
Errors in DC scheme contributions becoming 'increasingly commonplace'

Errors in DC scheme contributions becoming 'increasingly commonplace'

Hymans has urged schemes to review compliance to identify and rectify errors

Holly Roach
clock 17 June 2024 • 2 min read
Trustpilot