Statutory funding objective
From ACT Wiki
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’).
The Statutory Funding Objective and Scheme Specific Funding replaced the UK's previous Minimum Funding Requirement regime.
See also
- Actuarial valuation
- Defined benefit pension scheme
- Funding level
- Recovery plan
- Scheme Specific Funding
- Statutory
- Technical provisions
