Occupational Pension Schemes (Levy Ceiling) Order 2006

About 5 per cent of schemes will be affected by the 0.5 per cent cap so will not be paying a full risk-based levy. Fewer than 5 per cent of schemes will pay no risk-based levy at all. As far as the ceiling is concerned, yes, that is the absolute ceiling, but on top of that the administration levy of £15 million falls to be paid. If you ever reached the ceiling, you would still have to pay the administration levy on top of that.