Written question asked by Mike Hancock (Liberal Democrat) on Wednesday, 15 December 2004, in the House of Commons. It was due for an answer on Tuesday, 21 December 2004. It was answered by Malcolm Wicks (Labour) on Tuesday, 21 December 2004 on behalf of the Department for Work and Pensions.

Dept for Work and Pensions

Question: To ask the Secretary of State for Work and Pensions, if he willl make it his policy to include within the Pension Protection Fund, pension funds which have been affected short of insolvency, with particular reference to those affected by compromise agreements; and if he will make a statement.

Answer: Mr. Hancock: To ask the Secretary of State for Work and Pensions if he will make it his policy to include within the Pension Protection Fund, pension funds which have been affected short of insolvency, with particular reference to those affected by compromise agreements; and if he will make a statement. [206236] Malcolm Wicks: The entry rules for the PPF are clear: an eligible scheme must not have commenced wind-up prior to the introduction of the PPF and their sponsoring employer must have a qualifying insolvency event after that date. In addition, if a scheme compromises their section 75 debt below the PPF level of compensation then the scheme will be ineligible for PPF assistance (unless the compromise was part of a scheme of arrangement or within a PPF assessment period).

Secondary information

Type: Written question
Reference: 206236; 428 c1740W;428 c1737W
Session: 2004-05
Subjects: Eligibility Insolvency Workplace pensions Pensions Pension funds Pension Protection Fund
Link: View this Written question on www.publications.parliament.uk