| Commentary

100 The Pensions Regulator

| Commentary

100 The Pensions Regulator

A criticism of the Pension Protection Fund scheme is that it may act as an incentive for unscrupulous employers to seek to side-step their obligations under the pensions legislation, secure in the knowledge that any shortfall caused by their misdeeds will be made up by the Pension Protection Fun (the ‘moral hazard’ risk). The Pensions Act 2004 therefore contains various provisions designed to safeguard the integrity and sustainability of the Pension Protection Fund, and to ensure that responsible employers do not end up subsidising the irresponsible. The risk-based emphasis of the pension fund levies1 should provide

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