Fraud Compensation Fund: Difference between revisions
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imported>Doug Williamson (Change of 'replaces' to 'replaced' as it did so in 2005. Source: http://www.pensionprotectionfund.org.uk/About-Us/Pages/FraudCompensationFund.aspx) |
imported>Doug Williamson (Layout.) |
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''UK Pensions.'' | ''UK Pensions.'' | ||
The FCF was established under UK pensions legislation to provide compensation to occupational pension schemes, with insolvent employers, that suffer a loss attributable to an offence involving dishonesty. | |||
It applies to most defined benefit and defined contribution occupational pension schemes, however, it does not apply to state retirement pensions. | It applies to most defined benefit and defined contribution occupational pension schemes, however, it does not apply to state retirement pensions. | ||
The FCF is a statutory fund run by the Board of the Pension Protection Fund and is funded from the Fraud Compensation Levy raised on eligible pension schemes. | The FCF is a statutory fund run by the Board of the Pension Protection Fund and is funded from the Fraud Compensation Levy raised on eligible pension schemes. | ||
It replaced the former Pensions Compensation Board. | It replaced the former Pensions Compensation Board, which undertook a similar role. | ||
Revision as of 15:37, 20 January 2016
(FCF).
UK Pensions.
The FCF was established under UK pensions legislation to provide compensation to occupational pension schemes, with insolvent employers, that suffer a loss attributable to an offence involving dishonesty.
It applies to most defined benefit and defined contribution occupational pension schemes, however, it does not apply to state retirement pensions.
The FCF is a statutory fund run by the Board of the Pension Protection Fund and is funded from the Fraud Compensation Levy raised on eligible pension schemes.
It replaced the former Pensions Compensation Board, which undertook a similar role.
