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Insolvency Practitioners 


Insolvency Practitioners interact with the Pension Protection Fund by sending us notification of insolvencies, where there is a pension scheme associated with the insolvent organisation. This is done by submiting a section 120 notice online.

For more information and to submit a section 120 notice, please use our online notification service.  If the response received is ‘no results returned’, please take this as confirmation that the employer details entered do not have a scheme eligible for an assessment period.

If you are aware of a defined benefit scheme being associated with this employer and it is not showing in your search, please submit a paper S120 notice.

If you are unsure or have any queries regarding this please contact us on 0845 600 2541.

 

IPs should also read our Guidance for Insolvency Practitioners and Official Receivers, which provides information on how insolvency practitioners and official receivers should interact with the Pension Protection Fund in the event that an employer, with an occupational pension scheme, suffers an insolvency event.

Our booklet, Restructuring and Insolvency - the PPF Approach - gives an overview of how and why the PPF enters restructuring and rescue deals, and summarises the principles we use to make our decisions.

 

Section 122 Notices
Insolvency Practitioners are also required, under Section 122 of the Pensions Act, to inform the PPF about the status of pension schemes. More information can be found in the Guidance, the forms to use are below.

Section 122 Pension Scheme Status Notice (Scheme Failure)
The purpose of this notice is to provide information on the status of the pension scheme (or section in the case of some multi-employer pension schemes) as set out in section 122 of the Pensions Act 2004 and Regulations 9 & 11 of the Pension Protection Fund (Entry Rules) Regulations 2005. (For further information on multi-employer pension schemes, see the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005.)

A short summary explaining why a pension scheme rescue is not possible should be provided on this form.

This notice will not become binding until the Board of the Pension Protection Fund determine whether to approve the notice and any time limits in relation to a review of the Board’s determination have expired and any reviews resolved.

Section 122 - Pension Scheme Status Notice (Withdrawal Notice)
The purpose of this notice is to provide information on the status of the pension scheme (or section or segregated part in the case of some multi-employer pension schemes) as set out in section 122 of the Pensions Act 2004 and Regulations 9,11& 12 of the Pension Protection Fund (Entry Rules) Regulations 2005. (For further information on multi-employer pension schemes, see the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005.)

This notice will not become binding unless and until the Board of the Pension Protection Fund determines to approve the notice and any time limits in relation to a review of the Board's determination have expired and any reviews process is exhausted.

Section 122 (4) Pension Scheme Status Notice (Ceasing to Act)
The purpose of this notice is to provide information on the status of the pension scheme (or section in the case of some multi-employer pension schemes) as set out in section 122 of the Pensions Act 2004 and Regulation 9 of the Pension Protection Fund (Entry Rules) Regulations 2005. (For further information on multi-employer pension schemes, see the Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations 2005.)