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Pension Protection Fund under fire

Your Money
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Your Money
Posted:
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10/02/2006

The deputy director-general of the CBI, John Cridland, has criticised the Government over the cost of the Pension Protection Fund, which was yesterday allowed to more than double its £300 million levy for 2006-07.

A draft statutory instrument now states a £775 million cap. Mr Cridland said that many businesses saw the levy as “little more than a tax on their pension scheme” and feared that costs would continue to spiral. The potential levy rise was “wholly unacceptable”.


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