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...
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