The Pension Protection Fund (Entry Rules) Amendment Regulations 2008
Made
7th July 2008
Laid before Parliament
11th July 2008
Coming into force
2nd August 2008
The Secretary of State for Work and Pensions makes the following Regulations in exercise of the powers conferred by sections 126(3), 315(2) and 318(1) of the Pensions Act 2004(1).
In accordance with section 317(1) of that Act, the Secretary of State has consulted such persons as he considers appropriate.
These Regulations amend the Pension Protection Fund (Entry Rules) Regulations 2005 (S.I. 2005/590) (“the Entry Rules Regulations”). Pension schemes are required to go through an assessment period to determine whether they can enter the Pension Protection Fund (“the Fund”). Some schemes cease to be eligible to enter the Fund during the assessment period because the sponsoring employer is dissolved. Regulation 2(2) of these Regulations allows such schemes to remain eligible to enter the Fund.
Regulation 2(3) changes the way regulation 3(1) of the Entry Rules Regulations applies to segregated schemes. It amends regulation 3 so that each section of a segregated scheme can remain eligible to enter the Fund.
A full Impact Assessment has not been published for this instrument as it has only a negligible impact on the private and voluntary sectors.
