High Court Clarifies Rules For Pension Scam Victims Payouts

Law360, London (November 9, 2020, 5:10 PM GMT) -- A fraud compensation program for pension schemes could have to pay out on more claims after a judge ruled that the sponsor of a retirement plan could be considered an employer under the law if it had directors eligible to participate in that plan — even if they are unpaid.

Judge William Trower ruled at the High Court on Friday on six questions about when the board of the Pension Protection Fund, which manages the Fraud Compensation Fund, might have to pay out on claims after an increase in applications.

The fund, which was created under the Pensions Act 2004, can...

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