Occupational Pension Schemes (Levy Ceiling – Earnings Percentage Increase) Order 2011 comes into force
Implementation date: 9 March 2011
The order provides that, for the purpose of s.178(3)(a) of the Pensions Act 2004, the earnings percentage for the period 1 August 2009 to 31 July 2010 is 2.4%. The earnings percentage is used to raise the maximum amount of levy that the Pension Protection Fund can impose on eligible pension schemes. The order can be viewed on the UK legislation website.