Moral hazard provisions: pensions reforms draw closer | Practical Law
Several high profile company collapses in recent years have left pension schemes in deficit and pensioners with a fraction of the benefits they expected. The government has responded with new pensions legislation that will establish the Pension Protection Fund, together with tougher laws requiring companies to meet occupational pension scheme debts: the so-called "moral hazard" provisions of the Pensions Act 2004, due to become law in spring 2005.