The Occupational Pension Schemes (Modification of Pension Protection Provisions) Regulations 2005
These Regulations modify Chapter 3 of Part 2 of the Pensions Act 2004 (“the Act”) (pension protection provisions) as it applies where any liability to provide pensions or other benefits to or in respect of any member or members under an occupational pension scheme that is an eligible scheme (as defined in section 126 of the Act) is discharged during an assessment period or on the day when that period will begin. An assessment period is defined in section 132 of the Act and, broadly, is the period beginning with an insolvency event occurring in relation to a scheme’s employer and ending with either the Board of the Pension Protection Fund (“the Board”) assuming responsibility for the scheme or ceasing to be involved with it.