Occupational Pension Schemes (Levy Ceiling) Order 2011 comes into force
Implementation date: 31 March 2011
The Order prescribes that the levy ceiling on the pension protection levy is £892,092,092. The Pension Protection Fund imposes a pension protection levy on relevant pension schemes to fund the compensation that it will pay to members of a scheme if their employer becomes insolvent and the scheme is underfunded below a certain level. The Order can be viewed on the UK legislation website.