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, this means the current discounted capital value of the future liabilities, expressed in actuarial terms.
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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