Paragraph 16 I1

In section 127 (pension protection: duty to assume responsibility for schemes following insolvency event), after subsection (4) insert—

“(4A)

In relation to an eligible scheme that is a superfund scheme, if—

(a)

an event of concern takes place in relation to the scheme by virtue of the protected liabilities threshold ceasing to be met, and

(b)

no qualifying insolvency event occurred in relation to the employer before the event of concern took place,

this Chapter applies as though a qualifying insolvency event had occurred in relation to the employer immediately after the event of concern took place.

(4B)

In subsection (4A), “the protected liabilities threshold” and “event of concern” have the same meaning as in Part 3 of the Pension Schemes Act 2026.”