From 11 June 2003, solvent sponsors of UK defined benefit (DB) pension schemes have no longer been able to avoid responsibility for securing plan liabilities. This was the date when Statutory Instrument No. 403 defined the extent of the pension obligation for employers. In 2005 this was extended to insolvent sponsors. The significance of this for pension trustees is only now beginning to be appreciated. Previously employers were only tied to the value of the liabilities on the minimun ...
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