The Occupational Pension Schemes (Pensions Compensation Provisions) Amendment Regulations 2001
These Regulations amend the Occupational Pension Schemes (Pensions Compensation Provisions) Regulations 1997 (“the 1997 Regulations”) which make provision in relation to the payment, by the Pensions Compensation Board under sections 81 to 85 (“the compensation provisions”) of the Pensions Act 1995 (“the 1995 Act”), of compensation to occupational pension schemes whose assets have been reduced in value as a result of certain acts or omissions. These amendments are made in consequence of changes made to the compensation provisions by section 17 of the Welfare Reform and Pensions Act 1999 in connection with the criteria which must be met when an occupational pension scheme seeks compensation from the Board, and with the maximum amount of compensation payable.