UK pension plans halve recovery time

An analysis of scheme funding recovery plan data by the Pensions Regulator has shown a halving in the time that schemes should expect to take to pay off their pension deficit, from 15 to seven and a half years.

The 2004 Pensions Act replaced the discredited minimum funding requirement (MFR) regime, and requires schemes to submit an estimate of how long it will take to recover from a deficit. Calculations made by the Pensions Regulator at the time estimated this to be an average of 15 years, but

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