The Pensions Regulator is pursuing outstanding levy payments as part of a programme to collect over due money and ensure future payments are made on time.
Next month the regulator will begin action against schemes owing high values of outstanding debt. The body will issue claims against schemes in arrears and take them to court if it receives no payment. A spokeswoman for the Pensions Regulator says a county court judgement (CCJ), a judgement for debt by a county court, would be the worst-case scenario for a scheme refusing to pay. Once it receives payment the Pensions Regulator will put a process in place to ensure it immediately pursues any scheme failing to pay the regulator general levy and Pension Protection Fund (PPF) initial or ad...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
