Scheme rescue

In the context of the Pension Protection Fund (PPF) (www.practicallaw.com/7-205-4059), a scheme rescue occurs if, on the insolvency of a company that sponsors an occupational pension scheme (www.practicallaw.com/8-107-6900), financial support for the scheme continues. This will usually occur either because the company is rescued, or because another company in a larger group of companies is willing to take on its pensions liabilities. An insolvency practitioner (www.practicallaw.com/5-107-6261) appointed in relation to a company that sponsors an occupational scheme must notify the PPF whether a scheme rescue has occurred.

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