The chief policy adviser of the Pension Protection Fund has said the scheme would consider making repayments to companies if it were to run up a big surplus ahead of a 2030 self-sufficiency target.

The PPF, the UK government's lifeboat for defined benefit schemes, earlier this month it confirmed that its levy on businesses for the three years starting from 2015/16 would be 10% lower at £635 million a year, compared to this year's £695 million.