Financial Times FT.com

Consultants blast 'running to stand still' pension levy

By Nicholas Timmins, Public Policy Editor

Published: May 31 2008 03:00 | Last updated: May 31 2008 03:00

A bitter row broke out between the Pension Protection Fund, the pensions lifeboat, and some of Britain's leading consultancies yesterday over a revised formula governing the amount employers pay into risk-based levy schemes.

A change to the so-called "scaling factor" means many pension schemes will be paying 2½ times as much as they originally anticipated, Aon Consulting claimed.

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