Member

203A: Clause 113, page 147, line 25, leave out lines 25 to 28 and insert— “(b) may impose a scheme-based pension protection levy in respect of a description of eligible scheme (or in respect of all eligible schemes) or may impose both a risk-based pension protection levy and a scheme-based pension protection levy in respect of a description of eligible scheme (or in respect of all eligible schemes).”Member’s explanatory statement If the Pension Protection Fund (PPF) needs to raise a pension protection levy in future, this amendment would give the PPF more flexibility as to how to raise a levy and to decide at the relevant time whether to raise a risk-based levy, a scheme-based levy, or both (as well as the appropriate proportions between them).