recovery plan
Introduced by the Pensions Act 2004, the trustees of a salary-related scheme that has a funding shortfall must agree a recovery plan with the scheme's principal employer. The recovery plan must aim to eliminate the deficit so that the scheme meets the statutory funding objective. It must state the additional contributions that the principal employer (and any participating employers) will make to do this, and the period over which these will be paid.
Related links
multi-employer scheme (multi-employer pension schemes)

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

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