Technical provisions

Resource type: Glossary item

Status: Maintained

Jurisdiction: United Kingdom

Introduced by the Pensions (IORP) Directive (www.practicallaw.com/4-205-8172), and incorporated into UK law by the Pensions Act 2004, the technical provisions of a salary-related pension scheme (www.practicallaw.com/9-107-7188) are the amount required to cover its liabilities. Essentially, this means the current discounted capital value of the future liabilities, expressed in actuarial terms.

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Resource ID: 1-206-1963
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Glossary

Recovery plan Recovery plan (http://uk.practicallaw.com/topic9-206-1964)
Statement of funding principles (SFP) Statement of funding principles (SFP) (http://uk.practicallaw.com/topic6-206-1965)
Statutory funding objective Statutory funding objective (http://uk.practicallaw.com/topic3-206-1962)

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