The Social Welfare and Pensions Act 2012 introduced a requirement for defined benefit pension schemes to maintain a risk reserve of 15% over and above current liabilities. Under the Occupational Pension Schemes (Funding Standard Reserve) Regulations, 2013 (the "Funding Standard Regulations") the risk reserve requirement is to be reduced to 10% of the scheme's liabilities. Given the funding difficulties being experienced by many defined benefit schemes, this change is to be welcomed. The Funding Standard Regulations also provide that additional...
Changes To The Risk Reserve Requirements
|Author:||Mr Bryan Dunne, Brian Buggy, John Dunne and Paul Glenfield|
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