Clause 29 - Deficits attributable to an offence or the imposition of a levy

Part of Pension Schemes Bill – in a Public Bill Committee at 2:00 pm on 30th October 2014.

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Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions 2:00 pm, 30th October 2014

We are talking about exceptional circumstances. For the offences that will be prescribed for the purposes of this section, we covered situations in which a pension corresponding or similar to any provision made by section 75 of the 1995 Act can be applied in the context of collective benefits talking about specific scenarios where an offence has taken place. An offence relates to the running of the scheme, so dishonesty or fraud would be an obvious example. I hope that is helpful.