Pension Protection Fund (Pension Compensation Cap) Order 2011 comes into force

Implementation date: 1 April 2011

The Order increases the compensation cap, which is used to determine the amount of compensation payable to a person who is under normal pension age and whose compensation is not derived from a survivor’s pension or a pension payable on the grounds of ill health, where the relevant pension scheme is underfunded by a certain level and whose sponsoring employer has become insolvent. The Order can be viewed on the UK legislation website.