The Department for Work and Pensions (DWP) has published a consultation outcome paper concerning its proposed technical amendments to the Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations 2005 (SI 2005/2184) and the Pension Protection Fund (Compensation) Regulations 2005 (SI 2005/670).
In this paper, the DWP outlines the feedback it has received to its consultation on proposed revisions to above noted regulations which aimed to
(1) ensure that surviving dependent children are still able to draw benefits from occupational pension schemes when taking a gap year in which they are NOT enrolled in educational courses; and
(2) ensure that while a pension scheme is applying for payments from the Pension Protection Fund (PPF), the PPF may make interim payments to cover scheme fees and costs in connection with the application.
As the responses were supportive of the changes, the DWP will proceed as proposed with only a minor modification in wording.
Technical amendments to the Pension Protection Fund and Fraud Compensation Fund Regulations
ID
22157
Other Features
fees
pension funds
Date Published: 2023-03-07
Regulatory Framework: Pensions Act 2004
Regulatory Type: information
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