Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations 2005 come into force
Implementation date: 1 September 2005
The Regulations make provision in relation to the payment by the Board of the Pension Protection Fund of fraud compensation under the Pensions Act 2004, Chapter 4 of Part 2. Fraud compensation is payable where an employer in relation to an occupational pension scheme is insolvent, or unlikely to continue as a going concern, and the scheme has suffered a loss as a result of an act or omission which qualifies as an offence prescribed under regulation 3 of these Regulations. The Regulations can be viewed on the OPSI website.