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PPF announces 575m levy

The Pension Protection Fund has announced its levy on business will be 575m for the year 2006/07, almost double the original estimate of 300m.
PPF chairman Lawrence Churchill says he believes the proposals are a fair, simple and proportionate basis for getting the risk based levy started. Churchill says no fund will have to pay more than 0.5 per cent of its liabilities.
Churchill says: Our proposals for the distribution of the levy across schemes are now firm, and, taken together with the levy estimate, we believe that schemes and their sponsoring employers have the information required to implement their risk reduction plans with confidence.
Conservative shadow work and pensions secretary Philip Hammond says: It is a matter of concern that the Government figures given to Parliament when the legislation for the PPF was passed suggested that the cost would be around a half of what it has actually turned out.”


RBS brings four brands under single umbrella

The restructure follows RBS canvassing brokers about how it could better define the difference between The One Account, First Active, RBS and Nat-West’s product lines – as revealed by Money Marketing in April – after it was criticised for a perc- eived lack of focus. From February, under RBSIP, each of the four brands will […]

Do they know it’s A-Day?

Here is a seasonal song to the tune of Do They Know Its Christmas?Its A-Day soonTheres no need for advisersto be afraidFor A-DayPensions marketing will let in light and banish shadeAnd in the advisers world of plentyWe can spread a smile of joyThrow your arms aroundAdair TurnerCause A-Days soonBut say a prayer (say a prayer)Pray […]

Pass the portal at takeover time

A year dominated by acquisitions began with concerns over the future of the The Exchange after it was put up for sale at the end of 2004. Many firms were touted as potential buyers, including IBM, Capita and Unisys, but in March outsourcing giant Vertex snapped up Marlborough Stirling for 95m. Product providers were becoming […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


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