The supervision and control of pension funding in the United Kingdom

Document description

This paper looks at the existing controls on minimum funding standards and the solvency of defined benefit pension schemes in the United Kingdom. It considers the definition and disclosure of solvency margins and then goes on to look at the operation of a ‘Pensioners’ Protection Fund’ which would underwrite the solvency of schemes in a winding-up. With submissions due to the Goode Committee before the end of 1992, this paper will provide a well-timed opportunity to discuss some of the issues to be addressed by that Committee.