Before you fill in this form, please ensure you have read the whole of the form including the notes, the guidance booklet accompanying your levy invoice and the information on the PPF website about levy waivers.
This form is only to be used for applications for a waiver of the pension protection levies.
Please note that the scheme must have been issued with an invoice in order to apply for a waiver, and that a waiver cannot be granted after an invoice has been paid.
If you applied successfully for a waiver in the previous levy year, and the position of your scheme has not changed since that application, you do not need to re-submit the evidence you have supplied previously (step 2).
Please complete all sections of the form. If you make any mistakes or fail to complete this form properly, this may lead to delays in processing your application.
For the best experience please use a computer rather than a mobile.
Notes
1. Please provide contact details in case the Board has any questions about the information provided.
2. An application for a waiver must be made within 28 days of the date on the invoice in question. The Board has NO discretion to extend this timetable. Please note that a waiver cannot be granted unless an invoice has been issued, even if you think your scheme meets all the criteria. If you are submitting your application form outside the 28-day time limit, but raised a relevant waiver query with the Board within 28 days of the invoice, please provide details of this query on the application form. Please note that the scheme must have been issued with an invoice in order to apply for a waiver. You cannot, therefore, apply for a waiver before your invoice has been issued. Please note that a waiver cannot be granted after an invoice has been paid. If you have paid your invoice, the Board has NO discretion to grant a waiver. If you are concerned about interest accruing on the unpaid invoice, please refer to the invoicing section of the PPF website for more information.
3. Without the relevant evidence, a waiver will not be granted. If you have other evidence, other than the types listed on this form, that you consider demonstrates that the relevant criteria have been met, though, you may submit this for consideration provided that you have clearly set out the position in Part 4. Please note the following specific points about evidence in respect of Ground (I) (Scheme benefits are fully covered by insurance companies– which includes both buy-ins and buy-outs):
a. The Board requires evidence that no further contributions to the scheme in respect of relevant benefits (e.g. DB) are expected (for example, it may be that any further payments are made direct to the insurer, or further payments may be in relation to expenses only). This could be evidenced by the most recent schedule of contributions, or it could be another form of confirmation of the same from the scheme actuary.
b. It is critical that evidence is provided that all known relevant benefits under the scheme rules will be provided in full. This could be evidenced by the insurance contract (buy-in or buy-out). It would not suffice if the evidence shows that, for example, only the PPF-level benefits are secured, or there is a partial buy-in.
c. If the scheme has commended winding up, please share the winding up deed.
d. For a waiver of the scheme-based levy, the Board requires evidence that there are insufficient unallocated assets in the scheme to pay that scheme-based levy in full (for example, it may be that assets are allocated to buy-out or winding up expenses). This could be evidenced through a scheme bank account statement.
4. Please complete this section by referring to the specific criteria for the category of waiver sought, and identifying precisely which parts of the documentation show that the criteria are met. It is for schemes to satisfy the Board that the criteria have been met. If insufficient evidence is provided, the waiver will not be granted.