Winding-up priority order regulations laid


Regulations amending the statutory priority order on the winding-up of an occupational pension scheme were laid on 19 April 2004 and will come into force on 10 May 2004. The Government’s Green Paper of 17 December 2002 put forward several options for achieving a fairer sharing of assets on the winding-up of a defined benefit scheme. This culminated in the publication of draft Regulations for consultation in October 2003.

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