Date of insolvency crucial in S75 calculations

Jenna Towler
clock

The date of sponsor insolvency should be used to calculate section 75 debt liabilities - saving sponsors millions of pounds in potential liabilities, the High Court rules.

The judgment means Icelandic bank Kaupthing Singer & Friedlander - which went into liquidation in October 2008 - will not have to pay out an additional £66m to its pension scheme. The "eye water...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

TPR's DB funding code comes into force

TPR's DB funding code comes into force

DB schemes with actuarial valuation dates on or after 22 September should use the code

Holly Roach
clock 12 November 2024 • 2 min read
PPF sees aggregate surpluses rise by £9.1bn in October

PPF sees aggregate surpluses rise by £9.1bn in October

Lifeboat fund’s index finds surplus rose to £485.1bn from £476bn at the end of September

Martin Richmond
clock 12 November 2024 • 3 min read
DB schemes continue to show 'significant surplus', PwC finds

DB schemes continue to show 'significant surplus', PwC finds

The organisation said schemes reached a new funding record in October

Holly Roach
clock 07 November 2024 • 3 min read
Trustpilot