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Details relating to pension funds that have become insolvent

FOI reference - FOI-3621
Date - 4 February 2019

Request

How many commercial and company pensions funds have gone bankrupt or insolvent and who are they?

Response

I can confirm that we hold information falling within scope of your request but that we do not collate the figures. We are also unable to supply what information we do have for the reason set out below.

Information we are not able to supply

Section 44(1)(a) – restricted information under section 82 of the Pension Act 2004 (PA04)

As we have been given strong powers to demand documents and other information from trustees, employers and others, those powers are also balanced by restrictions on how we disclose the information provided to us. The type of information you have requested would be ‘restricted information’. Restricted information is defined at section 82(4) of the PA04 as 'information obtained by the Regulator in the exercise of its functions which relates to the business or other affairs of any person’.

Under section 82(5) of the PA04 it is a criminal offence to disclose such information except as permitted under that Act.

Whilst the Freedom of Information Act (FoIA) is based on the presumption of releasing information, section 44(1)(a) of the FoIA provides an absolute exemption to the requirement to disclose any information if its disclosure is prohibited by or under any enactment. In this case, section 82 of the PA04 prohibits disclosure and we are unable to disclose the requested information. This exemption is absolute and does not require a public interest assessment be undertaken.

However under our duty to provide advice and assistance, please see the Payment Protection Fund (PPF) website where there are details of the scheme that have entered into the PPF.