COMP 4.3 Exceptions: Circumstances where a person coming within COMP 4.2.2R may receive compensation

A person who comes within COMP 4.2.2R is eligible to claim compensation in respect of a liability subject to compulsory insurance if the claim is in connection with protected non-investment insurance distribution.

The FSCS may treat a person who comes within category (7) or (12) of COMP 4.2.2 R as eligible to claim compensation where:

1. (1)

   this is desirable to achieve the efficient performance of any of its functions, including without limitation; to achieve the efficient payment of compensation; and

2. (2)

   treating these persons as eligible to claim compensation would, in the opinion of the FSCS, be beneficial to the generality of eligible claimants who will be affected by the action in (1).

1. A person is eligible to claim compensation for claims where they are a trustee of:
   1. (1) a personal pension scheme;
   2. (2) a stakeholder pension scheme (which is not an occupational pension scheme);
   3. (3) an occupational pension scheme insofar as members’ benefits are money-purchase benefits; or

   4. (4) an occupational pension scheme insofar as members’ benefits are not money-purchase benefits; and the employer is not a large company, large partnership or large mutual association.

       

A body corporate in the same group as the relevant person in default is eligible to claim compensation for claims where they are:

1. (1) a trustee of a stakeholder pension scheme (which is not an occupational pension scheme) or a personal pension scheme, provided that if the body corporate is a firm its claim arises out of a regulated activity for which it does not have permission;
2. (2) a trustee of an occupational pension scheme in relation to members’ benefits which are money-purchase benefits;
3. (3) trustees of an occupational pension scheme of an employer which is not a large company, large partnership or large mutual association; or

4. (4) carrying on the regulated activity of operating or winding up a stakeholder pension scheme (which is not an occupational pension scheme) or a personal pension scheme.