Is PPF the new CSA?
I was amazed, visitng Daniel Kawcyzinski’s constituency, to meet a company boss and hear his tale of woe about the Pension Protection Fund. The PPF was set up by Labour as a kind of state sponsored insurance company to protect company pensions, and most companies must make a contribution. Any way, this guy was hit out of the blue with a £200 grand bill. He appealed, and got it down to £12 grand! Quite a big difference, but why such wildly fluctuating assessments. Is the PPF the new Child Support Agency (or tax credits, or…)