Practical Law UK Glossary 2-242-0060 (Approx. 3 pages)
Glossary
Protected liabilities
In the context of pensions, a scheme's protected liabilities are the estimated cost of securing members' benefits through buying annuities from an insurance company in an amount equal to the compensation that the Pension Protection Fund (PPF) would pay under Schedule 7 to the Pensions Act 2004.