Explanatory note

This Order brings into force paragraphs 4 and 5 of Schedule 10 to the Pensions Act 2008 (c.30) (and paragraph 2 and section 129 as far as necessary to bring into force those paragraphs). Those paragraphs insert section 181A into the Pensions Act 2004 (c.35). Section 181A enables a Statutory Instrument to be made which provides for interest to be charged in the case of late payment of a pension protection levy. That levy is payable by certain defined benefit pension schemes to the Board of the Pension Protection Fund.

A full Impact Assessment has not been produced for this Order as it has no impact on the private or voluntary sectors.