Baroness Burt of Solihull – 2016 Parliamentary Question to the Department for Work and Pensions

The below Parliamentary question was asked by Baroness Burt of Solihull on 2016-06-06.

To ask Her Majesty’s Government what estimate they have made of the amount paid in levies to the Pension Protection Fund in each of the three years to 2012–13 due to companies using a contingent asset to replace the Pension Protection Fund’s Failure Score for the company with that of a different company, compared to what these companies paid in (1) 2012–13, (2) 2013–14 and (3) 2014–15.

Baroness Altmann

The Pension Protection Fund has not made a comparison of the amounts paid by schemes with a contingent asset prior to 2012/13 with later years, as substantial changes in the way that levies are calculated from year to year do not allow for robust comparison.