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News Response to Consultation Published
The Pension Protection Fund (Miscellaneous Amendments) Regulations 2012 (the Regulations) have exercised powers conferred by sections 143 and 151 of the Pension Acts 2004, as amended by the Pensions Act 2011.
Changes introduced in the Pensions Act 2011 will:
- make it possible for the PPF to use a funding determination in place of a section 143 valuation, and
- allow a scheme to make an application for reconsideration under section 151 if they are unable to obtain a protected benefits quotation.
The PPF will issue Statements setting out how it will implement these changes shortly. In the meantime, the PPF has updated information on the reconsideration process and this can be found here:
Overfunded Schemes - Applications for Reconsideration and Closed Scheme Authorisation
A link to the July consultation document can be found below:
[Published: 04 September 2012] Go to Latest News |
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