Home Who has to pay the levy?
All eligible defined benefit schemes have to pay the pension protection levy, as defined in Section 126 of the Pensions Act 2004.
Your scheme won’t pay the levy while it’s under assessment. However, your scheme failure notice must have been issued by 31 March and already become binding by the time we calculate your invoice that year.
If only part of your scheme is in assessment, we’ll calculate a levy for the continuing part.