Winding up the European way!


Designed to implement the European Pensions Directive, draft regulations have been published to set out the procedure to be followed by trustees winding up a defined benefit (DB) scheme which has a “recovery plan” in place. We expect that many schemes in this position will be eligible for the Pension Protection Fund (PPF) and will therefore be in close contact with the PPF Board. However, these provisions will also apply to schemes which are not eligible for the PPF.

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