Q&As

Do the preservation requirements apply to public sector schemes?

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Published by a ½Û×ÓÊÓƵ Pensions expert
Published on: 18 November 2013
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Scope of preservation requirements

The preservation requirements apply to occupational pension schemes that are funded at least in part by payments that the sponsoring employer is legally obliged to make to the scheme.

Case law has confirmed that the requirements do not apply to unfunded private sector occupational pension schemes since employers are not legally obliged to fund such schemes. A promise to pay a member's benefits at the time they fall into payment is not the same as an obligation to fund the scheme, and the existence of the latter obligation is necessary for a private sector occupational

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Preservation definition
What does Preservation mean?

A law which states that you do not forfeit your pension rights just because you leave the employer sometime before retirement.

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