30.01.2025
Today we’ve announced that our levy estimate for 2025/26 will be reduced and included a new provision in our rules to allow our Board to review its approach if sufficient progress can be made on the changes needed to give us greater flexibility on setting the levy.
The levy estimate will be reduced to £45m for 2025/26, a significant reduction on the £100m estimate initially proposed. This will be our lowest ever levy and almost all schemes - 99.7 per cent – are expected to see a reduction in levy next year.
Additionally, in our levy rules we’ve included a new provision that enables our Board to calculate a zero levy if appropriate legislative changes that would give us this greater flexibility in setting the levy are brought forward, and sufficiently progressed, in the course of 2025/26.
“We warmly welcome the government’s intent to give us greater flexibility to reduce the levy,” said Kate Jones, our Chair.
“Levy payers have long made a vital contribution to the PPF’s funding. We ultimately don’t want to charge levy payers any more than we need. This positive announcement is an important step towards that end goal.”
“On the back of our positive engagement with government, and based on our current risks, we’ve moved to reduce costs for levy payers and support sponsoring businesses. Importantly, we’ve also ensured we have the flexibility to review our approach if sufficient progress can be made on the changes we need.”
You can read the full details in our policy statement and levy rules.
