Publication
Coming full circle: Closing Loopholes No 2 reinstates the common law tests
On 7 December 2023, Parliament passed the Fair Work Legislation Amendment (Closing Loopholes Act 2023),
United Kingdom | Publication | June 2024
The PPF has published its response to its recent consultation on changes to the actuarial assumptions for section 143 and section 152 valuations.
These valuations relate to smaller schemes with less than £50 million in liabilities. On the previous assumptions, such schemes could have been overfunded and therefore ineligible for PPF entry. They could still, however, have been unable to obtain an affordable buy-out quotation for PPF levels of compensation.
The proposed changes came into effect on May 31, 2024.
Publication
On 7 December 2023, Parliament passed the Fair Work Legislation Amendment (Closing Loopholes Act 2023),
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023