Insurance, Professional Indemnity and Pensions: Limiting Liabilities
Companies looking to offload their pensions liabilities now have a range of options, although none are without their legal pitfalls. Robert Butler reports on the consequences of the Pensions Act
The Pensions Act 2004 introduced both the Pensions Regulator and the Pension Protection Fund (PPF). The Regulator’s ‘moral hazard’ powers can be used in circumstances when there are deliberate acts or failures to act where there is an intention to prejudice the pension scheme creditor. The PPF was established with the purpose of protecting members in the event that their sponsoring employer became insolvent, leaving a deficit in its occupational defined benefit (DB) pension scheme.
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