I thought the RBL calculation was a combination of U and P: the formula shown on my invoice is just 0.005 * L – why?
The risk based element of the pension protection levy is subject to a levy cap of 0.5% of estimated liabilities on a section 179 basis. Where the risk based levy calculated using the formula RBL = U x P x Levy Scaling Factor x Percentage risk based exceeds 0.5% of estimated section 179 liabilities, the cap will apply and the risk based levy will be re-calculated using RBL = 0.005 X L.
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