Written questions, answers and statements

Pension Protection Fund

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Question for Department for Work and Pensions

UIN 40112, tabled on 20 March 2025

Question

Mr Peter Bedford
Conservative
Mid Leicestershire
Commons

To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the adequacy of the Pension Protection Fund levy.

Answer

Torsten Bell
Labour
Swansea West
Commons

Answered on

25 March 2025

The Board of the Pension Protection Fund is responsible for setting the levy and consults on its levy rules annually. In view of the Pension Protection Fund’s strong financial position, the Board has announced that it expects to be able to significantly reduce the pension protection levy it charges in the coming years without risking its ability to pay its members’ compensation.

The Government has announced that it will consider giving the Board of the Pension Protection Fund greater flexibility to adjust the annual pension protection levy it collects from private sector occupational DB pension schemes, when it is not required. We will set out more detail in due course.

Answered by

Department for Work and Pensions
Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.