Opra acts on MFR rules

clock

By Mohamed Ali Bernat Opra is to issue guidance on the application process for extending the amount ...

By Mohamed Ali Bernat Opra is to issue guidance on the application process for extending the amount of time employers have to redress their minimum funding requirement (MFR) shortfalls. The regulator has the power to extend the periods for the restoration of full MFR when serious shortfalls are experienced. If a fund falls below 90% funded, employers are required to pump money into it to redress the balance. In its July bulletin, the regulator pointed out that it has received few applications to extend the restoration period and that its board has so far considered only one such appli...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •