Northern Ireland has signed off the annual cap on how much can be raised from the Pension Protection Fund (PPF) levy. The 2026 Order sets the levy ceiling for the year starting 1 April 2026 at £1,473,343,665.61, taking effect on 31 March and replacing last year’s rule. It mirrors the Westminster instrument made on 2 February. (statutoryinstruments.parliament.uk)

For employers and trustees across the North with legacy defined benefit (DB) schemes, the practical news is simpler: the PPF confirmed last week it will not charge a conventional levy in 2026/27. That means no invoice this autumn for almost all DB sponsors, though the statutory ceiling still sits in the background. (ppf.co.uk)

“Not charging a levy to conventional schemes in 2026/27 will reduce costs for DB schemes and employers,” said PPF chief executive Michelle Ostermann, welcoming the sector’s improved risk profile and the fund’s resilience. (ppf.co.uk)

There are admin jobs to keep on top of. The PPF says scheme returns via Exchange remain compulsory, but you can stop sending data that only ever chased levy discounts. Its Dun & Bradstreet insolvency risk portal closes from 1 April-schemes have been told to download anything needed by 31 March, with the fund’s final 2026/27 rules due before month‑end. (ppf.co.uk)

The levy ceiling itself is a safety valve, not a bill. Parliament requires it to rise each year with average earnings; the Lords’ scrutiny committee notes a 5% uplift this time, taking the ceiling from around £1.40bn to about £1.47bn. The Northern Ireland order corresponds to that UK position. (publications.parliament.uk)

Zero bills do not mean zero oversight. The PPF will keep a proportionate charge on Alternative Covenant Schemes (covering superfund‑type arrangements) and says it will refine that approach through 2026/27. Most conventional schemes in our region won’t see a charge, but specialist vehicles still will. (ppf.co.uk)

Why the confidence? The PPF’s reserves are around £14bn, ultimately underpinning some £1 trillion of liabilities in roughly 5,000 DB schemes. That strength – plus fewer failures and better funding – is what allows a zero conventional levy while keeping the statutory ceiling in place as a contingency. (ppf.co.uk)

Legislation is catching up. The Pension Schemes Bill includes measures to fix the current rule that makes it hard to reintroduce the levy after a cut to zero, and to scrap the separate administration levy so running costs sit squarely with the fund. The PPF has tied its 2026/27 approach to that progress. (ppf.co.uk)

For finance directors in manufacturing, retail and services across the North, this buys a little headroom in cashflow forecasts for 2026/27. Keep governance tight: complete the Exchange return, note the D&B portal closure, and watch for the PPF’s policy statement before 31 March. We’ll report again once the final rules land. (ppf.co.uk)

Formally, the Department for Communities order was sealed on 6 March and comes into operation on 31 March, revoking the 2025 instrument. It is a technical step with very real local consequences: easier planning for DB sponsors this year, with a clear statutory backstop if conditions turn.