The Pension Protection Fund (PPF) has announced a delay in making Experian failure scores available to levy payers.
Experian is replacing Dun & Bradstreet as the PPF’s appointed insolvency risk provider. While the insolvency scores provided by Experian will not be used in the calculation of the levy until the 2015/16 levy year, the PPF has already been working with Experian to develop a new model for calculating insolvency risk. The PPF had intended to provide more detail by the end of 2013, so that pension schemes have time to evaluate the new model and how it might affect their sponsors’ failure score early in 2014. This would have given levy payers a year to make any arrangements necessary to ensure that their score – which might be very different from that calculated previously by Dun & Bradstreet – accurately reflects the risk they pose to the PPF.
Unfortunately the project has fallen behind schedule and the PPF is unable, currently, to advise when levy payers will be able to view their Experian scores.