Section 160 Interest on late payment of benefit.I1I2

After section 151 of the M1Pension Schemes Act 1993 there is inserted—

Interest on late payment of benefit.

151A

Where under this Part the Pensions Ombudsman directs a person responsible for the management of an occupational or personal pension scheme to make any payment in respect of benefit under the scheme which, in his opinion, ought to have been paid earlier, his direction may also require the payment of interest at the prescribed rate