COMPANIES Transport for London, operator of the city’s mass transit system, will seek the first judicial review of a premium levied by the Pension Protection Fund, with the outcome set to be watched by other employers.
TfL says that the levy imposed is many times greater than is justified by the risk it presents to the nation’s pension insurance scheme. The levies paid into the PPF by employers reflect, in part, the likelihood the sponsor of a pension plan is likely to become insolvent in a year.
