[58D Financial penalty for conduct risking accrued scheme benefits]
Pensions Act 2004 (2004 c 35) | Legislation

[58D  Financial penalty for conduct risking accrued scheme benefits]

[(1)     This section applies in relation to an occupational pension scheme other than—

(a)     a money purchase scheme, or

(b)     a prescribed scheme or a scheme of a prescribed description.

(2)     Section 88A (financial penalties) applies to a person who was party to an act or deliberate failure to act that detrimentally affected in a material way the likelihood of accrued scheme benefits being received (whether the benefits are to be received as benefits under the scheme or otherwise), if—

(a)     the person knew or ought to have known that the act or failure to act would have that effect, and

(b)     it was not reasonable for the person to act or fail

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