Pension fund trustees will be granted more powers under the Government's intended replacement for th...
Pension fund trustees will be granted more powers under the Government's intended replacement for the minimum funding requirement (MFR). The proposals, included in the Pensions Green Paper, will see trustees have the ability to freeze or wind-up schemes in certain events, such as conflicts with employers concerning appropriate contribution levels and overcoming any funding deficits. Admitting MFR has not worked as intended and the need to satisfy the MFR test has led some schemes to focus too much on the impact of short-term market conditions instead of on an appropriate strategy for m...
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