30 March deadline for certifying (and recertifying) PPF contingent assets
31 January 2012
If you are a trustee of a defined benefit pension scheme and:
- you are thinking of putting in place a contingent asset (or have done so since 31 March 2011) with a view to reducing the 2012/2013 Pension Protection Fund (PPF) levy; or
- you put in place a contingent asset which had the effect of reducing the PPF levy in a previous year and you wish it to continue to do so for the 2012/2013 levy;
you need to have the contingent asset in place and certified (or recertified) to the PPF by 5 p.m. on 30 March 2012. Otherwise, the 2012/2013 levy will be calculated without regard to the relevant contingent asset and so be higher.
This newsletter outlines the steps that need to be taken.
By all means speak to your usual Linklaters LLP pensions contact if you wish to discuss this further.
