The Occupational Pension Schemes (Fraud Compensation Payments and Miscellaneous Amendments) Regulations 2005
These Regulations make provision in relation to the payment by the Board of the Pension Protection Fund of fraud compensation under Chapter 4 of Part 2 of the Pensions Act 2004 (c. 35) (“the Act”). Fraud compensation is payable from 1st September 2005 where an employer in relation to an occupational pension scheme is insolvent, or unlikely to continue as a going concern, and the scheme has suffered a loss as a result of an act or omission which qualifies as an offence prescribed under regulation 3 of these Regulations.