Statutory Instruments
2023 No. 265
Pensions
The Occupational Pension Schemes (Pension Protection Fund (Compensation) and Fraud Compensation Payments) (Amendment) Regulations 2023
Made
6th March 2023
Laid before Parliament
7th March 2023
Coming into force
6th April 2023
The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 186(1)(a)(ii) and 315(2), (4) and (5) of, and paragraph 23 of Schedule 7 to, the Pensions Act 2004( 1 ).
In accordance with section 317(1) of the Pensions Act 2004, the Secretary of State has consulted such persons as the Secretary of State considers appropriate.
Citation and commencement
1. These Regulations may be cited as the Occupational Pension Schemes (Pension Protection Fund (Compensation) and Fraud Compensation Payments) (Amendment) Regulations 2023 and come into force on 6th April 2023.
Extent
2. These Regulations extend to England and Wales and Scotland.
Amendment of the Pension Protection Fund (Compensation) Regulations 2005
3. In regulation 7 of the Pension Protection Fund (Compensation) Regulations 2005( 2 ) (period of payment), in paragraph (2)(b) omit “and within one year of leaving the previous course”.
Amendment of the Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations 2005
4. In regulation 8 of the Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations 2005( 3 ) (interim payments), after paragraph (1)(b)(iv) insert—
“ (v) costs, expenses and liabilities that arise as a consequence of the application; ” .
Signed by authority of the Secretary of State for Work and Pensions
Laura Trott
Parliamentary Under Secretary of State
Department for Work and Pensions
6th March 2023
2004 c. 35 . See section 318(1) for definitions of “prescribed” and “regulations”.
S.I. 2005/670 . As amended by S.I. 2005/2113 .