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What happens when the Pension Protection Fund receives a notice of a company’s insolvency?

When an insolvency event occurs we receive a formal notice called a section 120 notice from the insolvency practitioner if there is an occupational pension scheme associated with the employer.  We then have 28 days from the day we receive this notice to confirm whether there has been a qualifying insolvency event.  If we confirm that there has been a qualifying insolvency event, we will also confirm the date on which the assessment period began, which will be the date of that insolvency event. 

Published: Wednesday, April 06, 2005
Associated Subjects: S120 Notice;Compensation;Insolvency
Associated Roles: Scheme members

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