board of pension protection fund


Article 8 of EU Directive 2008/94/EC (“the Insolvency Directive”) requires member states to take measures to protect the pensions of employees and ex-employees of an employer, in the event of insolvency, including protection in respect of survivor’s benefits. The claimants contended that this scheme failed to comply with EU law, in particular (a) because it failed to ensure that the member received at least 50% of his scheme benefits in each pension year; (b) because it would inevitably yield less than 50%, both on an annual basis, and on a cumulative receipts basis, for members who lived significantly beyond the assumed lifetime; (c) because it failed to protect survivor benefits. (This note is not part of the Regulations). The Board of the Pension Protection Fund is established by section 107 of the Act to provide compensation for members of certain occupational pension schemes in the event of the insolvency of the scheme’s sponsoring employer and where the pension scheme is underfunded at a certain level. (2) Where the circumstances of the case are such that, in the opinion of the committee of the Board, it is reasonable for an application to be made after the end of the period specified in paragraph (1), the committee of the Board must give a decision if the application is made within such further period as the committee considers to be reasonable. They seek to challenge a decision of the Board of the Pension Protection Fund (“the Fund”) on the method the Board proposes to adopt to ensure that pension scheme members receive at least 50% of the value of their accrued pension benefits if their employer becomes insolvent. In regulation 2, for “or CIO” in each place it occurs substitute “, CIO or relevant CCBS”. Different options to open legislation in order to view more content on screen at once. The Atlantic Lottery Corporation (ALC) provides safe and responsible products for those Atlantic Canadians who choose to participate in lottery games. 2. Regulation 19 provides that an application for investigation and a decision in respect of a relevant complaint may be made by a person on behalf of the complainant. The Board of the Pension Protection Fund is established by section 107 of the Act to provide compensation for members of certain occupational pension schemes in the event of the insolvency of the scheme’s sponsoring employer and where the pension scheme is underfunded at a certain level. 2. The amended regulation 3 now also applies when a restructuring plan (a compromise or arrangement) is proposed under Part 26A of the Companies Act 2006 (c. 46) in relation to a relevant society which is an employer in respect of an eligible pension scheme and the trustees or managers of the scheme are a creditor of that society to whom the compromise or arrangement is proposed. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards. Regulation 1 provides for citation, commencement and interpretation. 2014/229. This item of legislation is currently only available in its original format. These Regulations provide for the investigation by the Board of the Pension Protection Fund of allegations of maladministration under section 208 of the Pensions Act 2004 (c. 35) (“the Act”). In giving a decision under regulation 10 the committee of the Board must take into account—. Regulation 7 provides that the Board may pay compensation to the complainant. the last day by which any documents or information that the Board has required a person to provide in accordance with a notice given under section 191 of the Act are to have been provided. (b)any other matters that appear to it to be relevant, including any document produced or information provided in accordance with a notice given under section 191 of the Act. Thomas Seymour along with a counsel … vary or revoke a decision already made by the Board in respect of the matters complained of in the relevant complaint; pay such compensation to the complainant as the committee of the Board considers appropriate. The case is also of significance in relation to issues, relevant to the other claimants but not the BALPA claimants, of limitation of claims and the benefits payable by trustees of schemes whilst in assessment (S.138 PA 2004). (3) Paragraph (2) does not apply where the Board considers that any injustice that a person may have suffered is likely to have been trivial. A decision under regulation 2 must be given in writing and must include—. “Relevant CCBS” is defined in article 1(2) of the 2014 Order. Regulation 6 revokes the Pension Protection Fund (Moratorium and Arrangements and Reconstructions for Companies in Financial Difficulty) (Amendment) Regulations 2020 as those Regulations were defective. The Pension Protection Fund Ombudsman has a separate website. 2020/744), with modifications set out in Part 1A of Schedule 1 to the 2014 Order, inserted by article 11 of the 2020 Order. The Board of the Pension Protection Fund (“the Board”) is established by section 107 of the Pensions Act 2004 (c. 35) (“the 2004 Act”) to provide compensation for members of certain occupational pension schemes in the event of the insolvency of the scheme’s sponsoring employer, where the pension scheme is underfunded below a certain level.

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