Written question asked by Lord Myners (Crossbench) on Monday, 25 April 2016, in the House of Lords. It was due for an answer on Tuesday, 10 May 2016. It was answered by Baroness Altmann (Conservative) on Thursday, 28 April 2016 on behalf of the Department for Work and Pensions.
Pension Protection Fund
- Question
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To ask Her Majesty’s Government whether they have considered the risk to the solvency of the Pension Protection Fund of owners of companies with funding deficits selling the business for a nominal consideration or to an unsuitable purchaser.
- Answer
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The independent Pensions Regulator, which oversees worked based pensions, has a statutory objective to reduce the risk of situations arising which may lead to compensation being payable from the Pension Protection Fund. It was given a significant range of anti-avoidance powers in the Pensions Act 2004, which can be deployed where it is appropriate and where the legal tests laid down in legislation are met.
Secondary information
- Type
- Written question
- Reference
- HL7905
- Session
- 2015-16
- Related items
- Subjects
- Companies Insolvency Pension Protection Fund Sales
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2020-01-07 11:28:19 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2015-16/HL7905
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2015-16/HL7905
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2015-16/HL7905