Pension Protection Fund risk-based levy - more stringent requirements for contingent assets

For a guarantee to be recognised as a contingent asset for PPF purposes, the trustees must certify that they have no reason to believe that the guarantor, as at the date of the certificate, could not meet its full commitment under the contingent asset as certified (the "Required Certification"). 

Guarantors, employers and trustees should note that the PPF guidance on giving this certification and the standards the PPF will apply when deciding whether to accept the registration of a guarantee have become more stringent since the 2012/13 levy year. 

This note gives further information on using contingent assets and on the requirements for certifying guarantees.

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