statement of funding principles
statement of funding principles (SFP)
Introduced by the Pensions Act 2004, the trustees of a salary-related scheme must prepare and maintain a statement of funding principles (SFP). The SFP must set out the trustees' policy for meeting the statutory funding objective and contain other prescribed information. The trustees must agree its contents with the scheme's principal employer.
Related links
multi-employer scheme (multi-employer pension schemes)

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

Look at other dictionaries:

  • statutory funding objective — (SFO) Introduced by the Pensions Act 2004, the statutory funding objective (SFO) requires that an occupational pension scheme that is a salary related scheme must have sufficient assets to cover its technical provisions. If a scheme does not me …   Law dictionary

  • Income statement — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • SFP — statement of funding principles (SFP) Introduced by the Pensions Act 2004, the trustees of a salary related scheme must prepare and maintain a statement of funding principles (SFP). The SFP must set out the trustees policy for meeting the… …   Law dictionary

  • 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… …   Law dictionary

  • SFO — statutory funding objective (SFO) Introduced by the Pensions Act 2004, the statutory funding objective (SFO) requires that an occupational pension scheme that is a salary related scheme must have sufficient assets to cover its technical… …   Law dictionary

  • technical provisions — Introduced by the Pensions (IORP) Directive, and incorporated into UK law by the Pensions Act 2004, the technical provisions of a salary related pension scheme (salary related scheme) are the amount required to cover its liabilities. Essentially …   Law dictionary

  • religion — religionless, adj. /ri lij euhn/, n. 1. a set of beliefs concerning the cause, nature, and purpose of the universe, esp. when considered as the creation of a superhuman agency or agencies, usually involving devotional and ritual observances, and… …   Universalium

  • Governance in higher education — refers to the means by which higher educational (also tertiary or postsecondary) institutions are formally organized and managed, though often there is a distinction between definitions of management and governance. Simply, university governance… …   Wikipedia

  • dance — dancingly, adv. /dans, dahns/, v., danced, dancing, n. v.i. 1. to move one s feet or body, or both, rhythmically in a pattern of steps, esp. to the accompaniment of music. 2. to leap, skip, etc., as from excitement or emotion; move nimbly or… …   Universalium

  • RELIGIOUS LIFE AND COMMUNITIES — Jews UNDER OTTOMAN RULE The Jews of the pre Zionist old yishuv, both sephardim (from the Orient) and ashkenazim (of European origin), dedicated their lives to the fulfillment of religious precepts: the study of the torah and the meticulous… …   Encyclopedia of Judaism

Share the article and excerpts

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

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.