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The government consulted on the draft Pension Protection Fund (Modification) (Amendment) Regulations 2017 between 15 September and 9 November 2016.
The draft regulations made changes to secondary legislation to ensure that new cap on Pension Protection Fund compensation to recognise long service worked as intended in specific situations.
We received 22 responses to the consultation, the majority of which were from individuals.
The Pensions Act 2014 provided for an increased compensation cap for long service. This consultation concerns the changes needed to secondary legislation to ensure that the cap operates as intended in all situations.
The commencement order and the transitional provisions order are necessary for the coming into force of the primary legislation. They are included here for information only – the government is not consulting on them.