Consultation outcome

Pension Protection Fund: draft regulations to take account of bridging pensions

From:
Department for Work and Pensions
Published
31 August 2017
Last updated
29 January 2018 — See all updates
This consultation has concluded

Detail of outcome

We published the government response to this consultation on 29 January 2018.

Original consultation

Summary

This consultation seeks views on the draft Pension Protection Fund (Compensation) (Amendment) Regulations 2017.

This consultation ran from
to

Consultation description

On 17 November 2017 we published the draft Pension Protection Fund (Compensation) (Amendment) Regulations 2018: technical consultation.

Bridging pensions allow individuals who retire before reaching State Pension age to be paid a higher rate of pension initially. The bridging pension then reduces when the individual begins to receive their State Pension or reaches an age specified in their pension scheme rules.

The draft Pension Protection Fund (Compensation) (Amendment) Regulations 2017 would allow the Pension Protection Fund (PPF) to take account of bridging pensions by smoothing the amount of PPF compensation over the individual’s lifetime.

This consultation seeks views on:

  • the implications of the government’s preferred option to allow the PPF to take account of bridging pensions by smoothing the amount of PPF compensation over the individual’s lifetime
  • whether the draft regulations achieve their intended purpose

We welcome comments from:

  • pension scheme trustees, administrators and managers
  • members of defined benefit occupational pension schemes
  • PPF levy payers
  • other interested parties

Documents

Draft regulations to allow the Pension Protection Fund to take account of bridging pension payment levels

PDF, 159 KB, 15 pages

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The draft Pension Protection Fund (Compensation) (Amendment) Regulations 2017

PDF, 141 KB, 3 pages

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Published 31 August 2017
Last updated 29 January 2018 + show all updates

  1. Added a link to the government response to the consultation.

  2. Added a link to a technical consultation on the draft Pension Protection Fund (Compensation) (Amendment) Regulations 2018.

  3. First published.

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