Consultation outcome

Technical amendments to the Pension Protection Fund and Fraud Compensation Fund Regulations

• From: Department for Work and Pensions
• Published: 27 July 2022
• Last updated: 7 March 2023 — See all updates

This was published under the 2019 to 2022 Johnson Conservative government

Applies to England, Scotland and Wales

This consultation has concluded

Read the full outcome

Government response: Technical amendments to the Pension Protection Fund and Fraud Compensation Fund Regulations

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The Occupational Pension Schemes (Pension Protection Fund (Compensation) and Fraud Compensation Payments) (Amendment) Regulations 2023

PDF, 104 KB, 3 pages

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Detail of outcome

This is the government response to the ‘Technical amendments to the Pension Protection Fund and Fraud Compensation Fund Regulations’ consultation document.

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Original consultation

Summary

This consultation seeks views on the draft Occupational Pension Schemes (Fraud Compensation Payments and Pension Protection Fund Compensation) (Amendment) Regulations 2023 that make technical changes to the operations of the Fraud Compensation Fund and the Pension Protection Fund.

This consultation ran from
9:30am on 27 July 2022 to 11:59pm on 9 September 2022

Consultation description

This consultation seeks views on two technical changes to the Fraud Compensation Fund (FCF) and the Pension Protection Fund (PPF) regulations. The set of draft regulations are the Occupational Pension Schemes (Fraud Compensation Fund Payments and Pension Protection Fund Compensation) (Amendment) Regulations 2023 which can be found in Annex A.

The changes are:

• inserting an additional prescribed liability that the Board of the PPF can make an interim payment for in order to cover scheme fees and costs while FCF claims are progressed.
• changing PPF provisions with regard to surviving child dependants so that a gap between qualifying courses of more than one year does not result in the loss of PPF compensation.

Chapter 1 of this consultation is aimed at:

• Trustees and scheme managers, including associations of professional and independent trustees

• Arm’s Length Bodies (ALB) such as the Pension Protection Fund (PPF), The Pensions Regulator (TPR) and the Pensions Ombudsman (TPO)

• Pension professionals

• Pension industry bodies

• Any other interested parties

Chapter 2 of this consultation is aimed at:

• PPF members and their dependents

• Charities with an interest in bereavement and bereavement benefits

• University boards

• Student associations

• Any other interested parties

Documents

Consultation document: Technical amendments to the Pension Protection Fund and Fraud Compensation Fund Regulations

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Consultation document: Technical amendments to the Pension Protection Fund and Fraud Compensation Fund Regulations

PDF, 180 KB, 12 pages

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Annex A: The Occupational Pension Schemes Regulations 2023

PDF, 120 KB, 2 pages

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Published 27 July 2022
Last updated 7 March 2023 + show all updates

1. 7 March 2023

   The government response to the 'Technical amendments to the Pension Protection Fund and Fraud Compensation Fund Regulations' consultation has been added.

2. 27 July 2022

   First published.