Employment-cessation event

An event that triggers liability for an employer debt (www.practicallaw.com/0-206-2072) due from a participating employer (www.practicallaw.com/6-206-1084) in a multi-employer (www.practicallaw.com/3-206-1085) defined benefit (DB) pension scheme (www.practicallaw.com/0-107-7545) to the trustees of the scheme. An employment-cessation event occurs on the date a participating employer is no longer employing one or more active members if at least one other participating employer in the same scheme is continuing to employ at least one active member. This definition is contained in regulation 6ZA(1) of the Occupational Pension Schemes (Employer Debt) Regulations (SI 2005/678).

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