Pension fund levy estimate welcomed

Press Association
John Cridland
John Cridland

A fund designed to protect pension pots in the event of an employer going bust has unveiled a lower than expected increase in its levy due to the tough economic climate.

The Pension Protection Fund (PPF) announced that the pension protection levy estimate for 2013/14 will be £630 million, the same aggregate amount that the PPF expects to be collected for the 2012/13 levy year.