employer debt

employer debt
In the context of pensions, the statutory debt arising under section 75 of the Pensions Act 1995. Also known as a section 75 debt, an employer that participates in a defined benefit scheme may owe an employer debt to the scheme's trustees if the scheme is underfunded. The debt arises either on the winding-up of a defined benefit scheme, or when a participating employer in a multi-employer scheme withdraws while the scheme is ongoing. It is usually calculated by reference to the buy-out cost.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • debt — n [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1: something owed: as a: a specific sum of money or a performance due another esp. by agreement (as a loan… …   Law dictionary

  • Debt-snowball method — The debt snowball method is a debt reduction strategy, whereby one who owes on more than one account pays off the accounts starting with the smallest balances first while paying the minimum on larger debts. Once the smallest debt is paid off, one …   Wikipedia

  • Debt consolidation — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Emp …   Wikipedia

  • section 75 debt — See employer debt Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • withdrawal arrangement — An arrangement that a participating employer in a defined benefit pension scheme (defined benefit scheme) may enter into with the trustees of the scheme when it withdraws from participation. The aim of the arrangement is to reduce the amount of… …   Law dictionary

  • List of Statutory Rules of Northern Ireland, 2005 — This is an incomplete list of Statutory Rules of Northern Ireland in 2005.1 100* Road Vehicles Lighting (Amendment) Regulations (Northern Ireland) 2005 S.R. 2005 No. 1 * Employer s Liability (Compulsory Insurance) (Amendment) Regulations… …   Wikipedia

  • List of Statutory Rules of Northern Ireland, 2008 — This is an incomplete list of Statutory Rules of Northern Ireland in 2008.1 100* Moneymore Road, Cookstown (Abandonment) Order (Northern Ireland) 2008 S.R. 2008 No. 1 * Energy Order 2003 (Supply of Information) Regulations (Northern Ireland) 2008 …   Wikipedia

  • Doug Hoyle, Baron Hoyle — Eric Douglas Harvey Hoyle, Baron Hoyle, known as Doug Hoyle (born 17 February 1930) is a British Labour politician and former member of parliament for Nelson and Colne and Warrington North. First elected in 1974 for Nelson and Colne, he narrowly… …   Wikipedia

  • List of Statutory Instruments of the United Kingdom, 2008 — This is an incomplete list of Statutory Instruments of the United Kingdom in 2008. NOTOC 1 100* Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2008 S.I. 2008/3 * Information as to Provision of Education… …   Wikipedia

  • buy-out — In the context of pensions, the securing of one or more members benefits by purchasing an annuity from an insurance company. It is the most expensive method of securing benefits and is used to determine the employer debt that arises under section …   Law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”