The PPF has updated its frequently asked questions (FAQs) relating to section 120 of the Pensions Act 2004. Section 120 sets out the duty to notify the PPF of insolvency events in respect of employers.
Where, in the case of an occupational scheme, an insolvency event occurs in relation to the employer, the appointed insolvency practitioner must give notice to that effect within the notification period to the PPF, the Pensions Regulator and the trustees or managers of the scheme.
The notification period is the period beginning with the later of:
- the insolvency date; and
- the date the insolvency practitioner becomes aware of the existence of the scheme.
View the updated FAQs.