Social Welfare and Pensions (No 2) Act 2013

This Act was enacted on 25 December 2013! It changes the priority order on wind-up of a defined benefit pension scheme. The terms depend on whether the employer is solvent or insolvent and in the event that both the pension scheme and employer are insolvent, the Act specifies the basis on which the Minister for Finance may make further amounts available to members.

A summary of the changes is shown in our news item on 22 November 2013 and the Pensions Board explanatory note on the changes can be found here Pensions Board explanatory note on Social Welfare & Pensions (No 2) Act 2013.

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