The Occupational Pension Schemes (Fraud Compensation Levy) Regulations (Northern Ireland) 2006
These Regulations make provision for when a fraud compensation levy (“the levy”) is imposed on occupational pension schemes under Article 171 of the Pensions (Northern Ireland) Order 2005 (“the 2005 Order”). The levy is payable in order to meet expenditure payable out of the Fraud Compensation Fund (see section 188(3) of the Pensions Act 2004 (c. 35) for list of expenditure allowed). The Board of the Pension Protection Fund decides the amount of expenditure in respect of which the levy is to be imposed.