Aon warns on Pension Protection Fund levy rise
by Gill Montia
Story link: Aon warns on Pension Protection Fund levy rise
Aon Hewitt is urging UK companies to take action now to limit the effect of the significant increases expected in Pension Protection Fund (PPF) levies for 2013/2014. According to the human resources firm, the PPF is expected to increase substantially the amount required of schemes next year, based on its current way of calculating the [...]
Aon advice as PPF levy deadline looms
by Gill Montia
Story link: Aon advice as PPF levy deadline looms
With the 30th March deadline approaching for submitting information to determine Pension Protection Fund (PPF) levies for 2012/13, Aon Hewitt is offering schemes advice on minimising the bill. Senior consultant, Milan Makhecha, has five key recommendations as follows: Amend or update your scheme return – this contains the key information that will be used to [...]
PPI claims prompt £61m FSCS 2010/11 levy
by Gill Montia
Story link: PPI claims prompt £61m FSCS 2010/11 levy
The Financial Services Compensation Scheme (FSCS) has decided against applying an interim levy on insurance intermediaries in 2009/10, for the costs of payment protection insurance (PPI) claims. However, the body says these costs will be levied in 2010/11, adding that PPI claims are becoming a growing area of its work and will be one of [...]
Atol levy increased as ABI predicted
by Gill Montia
Story link: Atol levy increased as ABI predicted
The Government has announced a rise in the levy on package holidays that exists to cover losses from the financial collapse of tour operators. From October, travellers who have booked package holidays will have to pay an extra £1.50 under the Air Travel Organiser’s Licence (Atol) protection scheme, taking the cost per individual to £2.50. [...]
BIBA celebrates reduced FSA levies for intermediaries
by Gill Montia
Story link: BIBA celebrates reduced FSA levies for intermediaries
The British Insurance Brokers’ Association (BIBA) is celebrating a successful campaign over the levies payable to the Financial Services Authority (FSA) by insurance intermediaries. The regulator has today published a policy statement setting out its final decision on the level of regulatory fees and levies for the 2009/2010 financial year. The document reveals that a [...]
PPF proposals on pension protection levy and risk
by Gill Montia
Story link: PPF proposals on pension protection levy and risk
The Pension Protection Fund (PPF) has set out the principles upon which proposals for the long-term future of the pension protection levy will be based. In a speech made last week at the National Association of Pension Funds’ annual conference, Martin Clarke, the PPF’s Director of Financial Risk, explained that when the risk based levy [...]
