Protected liabilities

In the context of pensions, a scheme's protected liabilities are the estimated cost of securing members' benefits through buying annuities (www.practicallaw.com/1-107-6404) from an insurance company in an amount equal to the compensation that the Pension Protection Fund (PPF) (www.practicallaw.com/7-205-4059) would pay under Schedule 7 to the Pensions Act 2004.

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