PPF issues response to new Pension Schemes Bill introducing levy and dashboard reforms
The Pension Protection Fund (PPF) has issued its response to the Pension Schemes Bill introduced on 5 June 2025, which details new measures affecting the PPF and Financial Assistance Scheme (FAS). Notably, the Bill provides for increased flexibility to further reduce the conventional PPF levy, including a potential reduction to zero if forthcoming legislative changes materialise in 2025–26. This follows the PPF’s confirmed reduction in the conventional PPF levy on 30 January 2025, when it announced that the 2025-26 levy was now estimated at £45m, but with final decisions on the levy pending the progress of these measures through Parliament. Additional important measures in the Bill the PPF welcomed included the integration of PPF and FAS compensation data into pension dashboards to enhance engagement among savers, and an extension of the terminal illness payment qualification—from a requirement of a six-month to a 12-month life expectancy.