Pensions-Credit-where-it-is due-latest-DWP-initiative

DWP consultations don’t usually stir the imagination but a couple out this week are indeed worthy reading for almost anyone involved in the pensions arena. First, we have The Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2010 (DWP). Bit of a mouthful that, but quoting from the document’s Background section:

‘These Regulations implement the European Commission’s decision dated 11 February 2009 that the partial exemption of the BT Pension Scheme (BTPS) from payment of a levy to the Pension Protection Fund (PPF), arising from the Crown guarantee, constituted an incompatible State aid and must cease. The Government therefore propose bringing forward regulations to remove the exemption and hence avoid granting an incompatible State aid.’

Crown Guarantees, you might remember hit the headlines back in the Autumn of 2007 and for a useful reminder there are a number of media articles contained in our Library under Guarantees (Crown) if you want to do some background reading:

The second DWP Consultation refers to a pilot project to pay Pension Credit automatically to a number of pensioners that have not claimed for it themselves. Nearly 30% of pensioners that are entitled to claim this benefit fail to do so. It will be interesting to see how this one pans out. See:

Consultation on draft regs: The Pension Protection Fund and Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2010 (DWP)

(13 pages) (re: BT Pension Scheme & Crown Guarantees)

Pension Credit Payment Pilot (DWP)

(8 pages) (Pilot project to pay PC to pensioners without them having to claim first)