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Statutory Instruments

2026 No. 83

PENSIONS

The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2026

Made

30th January 2026

Laid before Parliament

2nd February 2026

Coming into force in accordance with article 1(2) to (4)

The Secretary of State makes this Order in exercise of the powers conferred by section 178(1) and (6) of the Pensions Act 2004(1).

In accordance with section 178(5) of that Act, the Secretary of State has reviewed the general level of earnings obtaining in Great Britain during the period of 12 months ending with 31st July 2025, and it appears to the Secretary of State that the general level of earnings has increased during that period.

Citation, commencement and extent

1.—(1) This Order may be cited as the Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2026.

(2) This article and articles 2 and 3 come into force on 14th March 2026.

(3) Article 4 comes into force on 31st March 2026.

(4) Article 5 comes into force on 1st April 2026.

(5) This Order extends to England and Wales and Scotland.

Interpretation

2. In this Order, “ the Act ” means the Pensions Act 2004 .

The earnings percentage

3. For the purposes of section 178(3)(a) of the Act (the levy ceiling), the percentage by which it appears to the Secretary of State that the general level of earnings has increased during the review period(2) is 5%.

The levy ceiling

4. For the purposes of section 177 of the Act (amounts to be raised by the pension protection levies), the levy ceiling for the financial year beginning on 1st April 2026 is £1,473,343,665.61.

Revocation

5. The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2025(3) is revoked.

Signed by authority of the Secretary of State for Work and Pensions

Torsten Bell

Parliamentary Under Secretary of State

Department for Work and Pensions

30th January 2026

(2)

In accordance with section 178(4) of the Pensions Act 2004 and regulation 3 of S.I. 2006/2692, the review period is the period from 1st August 2024 to 31st July 2025.

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2026 (2026/83)
Version from: original only

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the Act art. 2. def_265ed12f7d

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