Occupational Pension Schemes (Levy Ceiling) Order (Northern Ireland) 2010 comes into force
Implementation date: 31 March 2010
The Order provides that the levy ceiling in Northern Ireland for the financial year beginning 1 April 2010 is £871,183,684. The board of the Pension Protection Fund is required to charge a levy to defined benefit occupational pension schemes, to fund the compensation it will pay to scheme members if their employer becomes insolvent and the scheme is underfunded by a certain amount. The Regulations can be viewed on the OPSI website.