Introduction to Section 120

When an employer becomes insolvent and employs an Insolvency Practitioner (IP) they have a duty to alert the Pension Protection Fund (PPF), the Pensions Regulator (TPR) and of course scheme Trustees within a strict time limit. At this point the PPF will decide on whether or not the scheme and its members qualify for compensation. Known as an s120 notification after the section of the Pensions Act 2004 from which it comes, it can be daunting for an IP to understand the full extent of a company’s pension commitments.

In order to help the process, the PPF publishes any Registered Trust Based company pension scheme on its website and although this can be a useful tool for IPs to find company pension schemes, our extensive links with IPs has revealed too many are over reliant on this online resource which does not include all of the schemes. This means some IPs will miss schemes that are unregistered and not under trust especially if they do not look at other sources into whether the company in question has a pension scheme.

We are able to submit these on request, although please be aware of time restrictions.

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