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We’ve published our levy rules for 2023/24

Our consultation setting out our plans for the 2023/24 levy rules closed on 10 November. Today we’ve published our policy statement with the formal levy rules.

How we set the levy rules

The framework for the levy rules is set out in legislation (Pensions Act 2004). We review and consult on how we apply these rules each year. 

How we calculate the levy

The levy is made up of the scheme-based levy and the risk-based levy. Here we explain how we calculate each component.

Levy payment plan request form

If you'd like to apply to pay your levy by instalments complete the form below within 28 days of receiving your invoice.

How to appeal your score

You'll need to contact our insolvency risk partner if you want to appeal your scheme’s mean score, levy band and levy rate.

How to provide scheme data

Most of the information we use comes from your s179 valuation information and annual scheme return.

How to update the information we have about you

Make sure you give accurate and up-to-date information about your scheme to us, The Pensions Regulator and D&B.

The Purple Book 2022 published today

The Purple Book confirms further improvement in the funding position of the defined benefit pensions universe.

What are contingent assets?

Contingent assets are arrangements that can be put in place to support the level of scheme funding, particularly in the event of employer insolvency.

Self-certifying deficit reduction contributions

Deficit reduction contributions, must have been made by 31 March and then certified on The Pension Regulator's Exchange system by the end of April.