Marvin OnumonuThe Pension Protection Fund (PPF) has confirmed it will not charge its levy to around 5,000 conventional defined benefit (DB) schemes for the 2026/27 year.
The PPF said this decision follows its recent consultation and progress of pension scheme changes in the Pension Schemes Bill.
Michelle Ostermann, CEO at the PPF, said: “This is an important time for pensions. Not charging a levy to conventional schemes in 2026/27 reflects the evolution of risk in this sector and will reduce costs for DB schemes and employers.
“We’re grateful to all those who responded to our recent consultation, and more broadly for the ongoing dialogue and productive engagement with our members and levy payers throughout our 20-year history.”
The PPF will continue to charge a risk-based ACS levy for alternative covenant schemes next year.
The organisation said the superfund sector is evolving and could see significant growth, so the ACS levy will stay in place for 2026/27.
The PPF will work with stakeholders to review the ACS levy methodology for 2027/28.
The final rules for the 2026/27 levy will be published next month.
