If the Secretary of State2 designates a person as a designated guidance provider under section 333E(1)(e) of the Act in the course of a fee year, the following formula must be used to calculate the pensions guidance providers’ levy to be paid by that provider for that fee year:
(1) |
calculate the number of months between and including: |
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(i) |
the month in which the person became a designated guidance provider; and |
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(ii) |
the last month of the relevant fee year; |
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(2) |
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(3) |
multiply the pension guidance providers’ levy set out in column (C) of row 5 of the table at FEES 11 Annex 1R by the number calculated in (2). |