Pensions Act 2004
2004 CHAPTER 35
Commentary on Sections
Part 2 – the Board of the Pension Protection Fund
Chapter 3 – Pension Protection
The Levy
Section 176: Supplementary provisions about pension protection levies
647.This section sets out the requirement for the Board to consult such persons as it considers appropriate in the manner specified in secondary legislation before determining the pension protection levy factors where:
it is the first financial year for which pension protection levies are imposed,
there is a change in a proposed levy rate or factor from the previous year, or
no consultation has been required under this section in relation to the pension protection levies imposed for the previous two financial years.
648.Subsection (2) requires the Board to publish details of any determination of the matters mentioned in subsection (5).
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