A Bill to amend the Pensions Act 2004 and the Companies Act 2006 to remove the cap on compensation payments under the Pension Protection Fund and to require the approval of pension scheme trustees and the Pensions Regulator for the distribution of dividends
House of Lords
8 November 2019
This Lords Bill would remove the cap on compensation payments paid by the Pension Protection Fund when a defined benefit pension scheme fails. It would also require the approval of pension scheme trustees and the Pensions Regulator before any dividend distributions. The aim is to strengthen protection for pension members while adding governance safeguards for how profits are distributed by sponsoring employers.
The bill is currently at the second reading in the Lords. If it progresses, it would move to committee stage in the Lords, then on to the Commons after passage in the Lords.
Generated 21 February 2026
First reading took place on 30 October. This stage is a formality that signals the start of the Bill's journey through the Lords.
Second reading - the general debate on all aspects of the Bill - is yet to be scheduled.
The 2017-19 Parliament dissolved at the end of the 2019 Session and this Bill will make no further progress
No recorded votes for this bill yet.
