PPF: Growing surplus gives room for levy cuts

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The Pension Protection Fund (PPF) says it could reduce the levy it collects from schemes after strong asset performance and low levels of claims saw its surplus increase last year.

The lifeboat fund's annual report and accounts, published last night, revealed its surplus had grown to £2.4bn and its probability of reaching self-sufficiency by 2030 had increased from 87% to 90%...

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