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(1) This Order may be cited as the Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling and Compensation Cap) Order 2020.
(2) This article and article 2 come into force on 12th March 2020.
(3) Article 3 comes into force on 31st March 2020.
(4) Articles 4 and 5 come into force on 1st April 2020.
(5) In this Order,  “the Act” means the Pensions Act 2004.
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The amount specified for the purposes of paragraph (a) of the definition of  “the standard amount” in paragraph 26A(7) of Schedule 7 to the Act (pension compensation provisions – meaning of  “the compensation cap”) is £41,461.07.
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The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling and Compensation Cap) Order 2019  is revoked.
Signed by authority of the Secretary of State for Work and Pensions
Guy Opperman

Parliamentary Under Secretary of State

Department for Work and Pensions
