Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what recent discussions his Department has held with (a) Experian and (b) the Pension Protection Fund (PPF) on the equitable treatment of businesses under the PPF levy.
The Pension Protection Fund (PPF) is an independent body which pays compensation to members of defined benefit occupational pension schemes where the sponsoring employer becomes insolvent and the scheme is unable to cover the accrued pension liabilities. The PPF is funded from a combination of the transferred scheme funds, recoveries from the insolvent employer, investment return and a levy on eligible schemes. Under the Pensions Act 2004, the levy is set by the PPF independently of the Government. The Department has therefore held no discussions on this matter.