Citation and commencement
1.—(1) This Order may be cited as the Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2021.
(2) This article and article 2 come into force on 31st March 2021.
(3) Article 3 comes into force on 1st April 2021.
The levy ceiling
2. For the purposes of section 177 of the Pensions Act 2004 (amounts to be raised by the pension protection levies), the levy ceiling for the financial year beginning on 1st April 2021 is £1,099,445,505.
Revocation
3. Articles 2 and 3 of the Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling and Compensation Cap) Order 2020(1) are revoked.
Signed by authority of the Secretary of State for Work and Pensions
Stedman-Scott
Parliamentary Under Secretary of State
Department for Work and Pensions
27th January 2021