Occupational Pension Schemes (Winding Up and Deficiency on Winding Up etc) (Amendment) Regulations 2004 come into force

The Regulations amend the statutory priority order when a defined pension scheme, subject to the Minimum Funding Requirement, is wound up. The Regulations are intended to ensure that where there are insufficient assets to meet all liabilities, they are shared as fairly as possible between non-pensioner and pensioner scheme members. The Regulations can be viewed on the Department for Work and Pensions website.
More from XpertHR on this item: IRS Employment Review; Occupational Pensions