Statutory funding objective: Difference between revisions

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imported>Doug Williamson
(Classify page.)
imported>Doug Williamson
(Update - source - House of Commons Library - https://researchbriefings.files.parliament.uk/documents/SN04877/SN04877.pdf)
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''Pensions''.
''Pensions funding - defined benefit schemes - UK.''
   
   
(SFO).  
(SFO).  


The is the name given to the pension scheme funding regime introduced for the UK by pensions legislation whereby trustees and employers must agree a funding programme specific to the scheme concerned on the basis of actuarial and other advice.
The statutory funding objective in the UK means defined benefit pension schemes need to have have appropriate assets to cover their accrued liabilities (also known as ‘technical provisions’).  


According to the relevant Code of Practice, '… full funding in relation to technical provisions is the statutory funding objective'. 


==See also==
* [[Actuarial valuation]]
* [[Defined benefit pension scheme]]
* [[Funding level]]
* [[Recovery plan]]
* [[Scheme Specific Funding]]
* [[Statutory]]
* [[Technical provisions]]


It replaced the previous regime, the Minimum Funding Requirement.


 
==External link==
== See also ==
*[https://researchbriefings.files.parliament.uk/documents/SN04877/SN04877.pdf Defined benefit pension scheme funding regime - UK House of Commons Library - 2020]
* [[Funding level]]
* [[Minimum Funding Requirement]]
* [[Scheme Specific Funding]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]

Revision as of 08:58, 4 March 2022

Pensions funding - defined benefit schemes - UK.

(SFO).

The statutory funding objective in the UK means defined benefit pension schemes need to have have appropriate assets to cover their accrued liabilities (also known as ‘technical provisions’).


See also


External link