Glossary

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Term Definition Legal instruments

pension obligation risk

01/01/2016

THIS DEFINITION ONLY APPLIES TO THE INSURANCE COMPANY – OVERALL RESOURCES AND VALUATION PART

means the risk:

(1) to a firm caused by its contractual or other liabilities to or with respect to a pension scheme (whether established for its employees or otherwise); and

(2) that the firm will make payments or other contribution to or with respect to a pension scheme because of a moral obligation or because the firm considers that it needs to do so for some other reason.